Media groups are criticizing the firing of the editor of the Venezuela's main business daily after President Nicolas Maduro lambasted its coverage of the country's economic crisis.

El Mundo's owners fired Omar Lugo after he ran a front-page story about the nation's plunging currency reserves under the headline "Discounts reach the central bank."

The headline was a play on Maduro's campaign to bring down 54 percent inflation by slashing prices of appliances. But the president last week said that the newspaper was spreading lies.

"What Maduro didn't like is that we told things the way they are," Lugo told the AP. The Nation's College of Journalists said the abrupt dismissal of the veteran journalist is a form of censorship that reflects how newspapers are increasingly caving to government pressure.