Dada Hirezi belongs to the Democratic Change party, which forms the current government coalition.
A statement from the Ministry of Economy reads:
The president, Mauricio Funes has sworn in, this April 27th at the Presidential House, Mr. Armando Flores as the new economy minister replacing Dr.Hector Dada Hirezi. Flores has served to date as the Vice Minister of Commerce and Industry.
In his first words as minister, Armando Flores, said that he already has clear policies which he will strengthen and implement during his tenure.
He said that he will support the backing of micro and small enterprises, which will seek to strengthen and stabilize the economy.
The new economy minister also said that supporting MSEs will create jobs for Salvadorans. Therefore he is already in dialogue with officials from the Ministry of Agriculture so as to jointly back national production.
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The businessman Luis Velazquez has replaced the economist Erick Coyoy in the management of the Ministry of Economy.
Luis Velázquez thus becomes the fifth economy minister during the government of President Alvaro Colom.
"The new minister dismissed the politicization of micro-credit programs implemented by the Ministry." noted an article in Elperiodico.com.gt
Mahesh Khemlani was appointed by the president, Ricardo Martinelli, as Deputy Minister of Finance under Decree 135 of August 31, 2011.
Deputy Khemlani, who replaces the deputy Dulcidio De La Guardia, was until his appointment, the Director of Public Credit, responsible for ensuring efficient programming, use and control of the means of financing obtained through public credit operations.
Streamlining business registration and reducing costs are the main goals of the next Guatemalan Minister of Economy and his team.
Sergio de la Torre, a Guatemalan businessman and the new finance minister, introduced his team, made up of people associated with the private sector in that nation.
Otto Perez, president elect of Guatemala, has appointed Sergio de la Torre as the future Minister of the Economy.
The president-elect said of the decision: "In the past 8 years Sergio de la Torre has been a member of the Monetary Board, he is a business manager and a businessman. He has always been involved in the country’s economic development."