Butifldrm Posted December 4, 2017 Report Share Posted December 4, 2017 Venezuela plans to launch electronic currency backed by oil and gold The new electronic currency called "Petro" 04 December 2017 01:53 PM Venezuela has decided to issue an electronic currency in an effort to overcome the effects of financial sanctions imposed by the United States. Venezuelan President Nicolas Maduro said in a televised address on Sunday that his country would issue an electronic currency backed by its reserves of gas, oil and diamonds, and Petro claims, quoting Reuters. Maduro added that the electronic currency would help his country to advance on its sovereign financial policy issues to be able to carry out financial transactions and overcome the financial blockade. "Venezuela is facing a global financial war," he said. Venezuela is currently seeking to restructure its debt estimated at 60 billion dollars, and introduced last month a new currency worth 100 thousand Bolivar. The IMF forecast inflation in Venezuela would reach 2300 percent next year, with the country's economic crisis and the collapse of the local currency. https://www.mubasher.info/news/3196081/فنزويلا-تعتزم-طرح-عملة-إلكترونية-مدعومة-بالنفط-والذهب?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+ar%2FISX%2Fnews+(ISX+Arabic+News) 2 Quote Link to comment Share on other sites More sharing options...
md11fr8dawg Posted December 4, 2017 Report Share Posted December 4, 2017 Who cares. Until they get rid of their stupid greedy socialist government it probably won't mater what they do. 2 Quote Link to comment Share on other sites More sharing options...
blueskyline Posted December 4, 2017 Report Share Posted December 4, 2017 Thanks Buti ! 2 Quote Link to comment Share on other sites More sharing options...
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