Spanish Prime Minister Pedro Sánchez appoints new economy minister

Spanish Prime Minister Pedro Sánchez appointed a new economy minister to his cabinet on Friday.

Carlos Cuerpo will replace Nadia Calviño, who became the new president of the European Investment Bank (EIB) in December.

Until his appointment, Cuerpo was secretary general for the treasury and international financing department at the economy ministry. 

The second government announcement on Friday was the appointment of María Jesús Montero as deputy prime minister, a position also previously held by Calviño.

Montero previously served as fourth deputy prime minister and finance minister, a position she will keep.