LUIS UGUETO ARISMENDI - VENEZUELA

Created: 11/10/1981

OCR scan of the original document, errors are possible

IS.

Luis UGUETO Arismendi (Phonetic: ooGWAYtoh)

Minister of Finance (since

Addressed as: Mr. Minister

Luis Ugueto became Minister of Finance after an impressive careerusiness executive*and

ugueto has represencea nis country on the lomflUCte'e of Finance Ministers of the Organization

"Petroleum Expecting

of five superministers in the Cabinet,

Ugueto coordinates all government economicincluding the work of the subcabinet group on

policy, and he oversees the preparation of

the budget before presenting it to Congress. He is an advocate of restrictive fiscal and monetary poli-

combined with price and import duty relaxations

to stimulate production. Because Venezuela's high

debt and public spending have become seri-

ous political issues, Ugueto has been trying'public sector spending and'borrowingand he has been intent on improvingsagging credit reputation. With an eyethe balance of payments, he helpedin several European capitals inELEASE that were designed to stimulate technologicalaugand foreign investment in Venezuela, partic-

ularly in priority development areas, such as agri-culture and low-cost housing.

Career and Personal Data

uguetoivil engineering degree from Andres Bello Catholic Universityand andegree with honors from the London School of ongtime member of the ruling

(cont.)

9

Social Christian Party, he served in Congress during the. Ugueto worked at the Central Bankndirector of the Bank of Commerce7 e was director general of the Finance Ministry, and he served concurrently as director and acting president of the Public Administration Commission in Ugueto was Minister-Counselor and chief officer of the Embassy in Washington. Concurrently, he was active infinancial affairs as an executive director of the International Monetary Fund andovernor of the Inter-American Development Bank. BeforeFinance Minister he was genera manager ot the) Seguros Orinoco Insurance

peaks fluent English. He isto the former Maria Isabel Otanez. The couple has two sons, who areyear-old daughter.

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