Around noon, President Hipolito Mejia announced Frank Guerrero Prats, former Central Bank governor, would replace Hugo Tolentino Dipp, who had resigned the position after holding differences with President Mejia over the country?s stand on the Iraq war. President Mejia sent his finance minister, Jose Lois Malkum to the Central Bank, and appointed economist Felix Calvo to the position of deputy governor. Likewise, he appointed Carlos Despradel Technical Secretary of the Presidency. Rafael Calderon is the new finance minister.