Maduro announces a monetary reform that eliminates five zeros at the bolivar

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Venezuelan President Nicolás Maduro announced Wednesday the entry into force of a monetary reform that removes five zeros from the bolivar, as part of his government's efforts to combat inflation and the shortage of banknotes.

million. Maduro said that the new monetary reform in Venezuela would work on August 20 as part of a recovery program to address the severe economic crisis in the country.

Maduro removes zeros from bolivar with monetary reform
By social networks Maduro reported about monetary reform (Twitter / @NicolasMaduro)

By social networks Maduro reported about monetary reform

During a speech broadcast on radio and television, the Venezuelan president said that the new monetary unit involves the elimination of the current monetary cone of 1,000, 2,000, 5,000, 10,000, 20,000, 50,000 and 100,000 bolivars, which Mad itself uro put into circulation between 2016 and 2017 to partially offset the exponential rise in prices

From August 20, a 50-cent coin and a 1-bolivar coin will be put into circulation, in addition to eight bank notes. 2, 5, 10, 20, 50, 100, 200 and 500 bolivars, reported

announce that economic and monetary reconversion will begin definitively on August 20 and the reduction of five zeros to the Venezuelan currency uélienne through the bolívar soberano ", said Nicolás Maduro, during his speech

The measure aims to stimulate economic activities that have been affected by the serious shortage of banknotes in a scenario of hyperinflation and scarcity of commodities

#EnVivo ? | Palace of Miraflores | Work with the economic cabinet for the construction of a socialist Venezuela that guarantees the well-being and full development of our people.Thttps: //t.co/ZapkiTWupy

– Nicolás Maduro (@NicolasMaduro) ] July 25, 2018 [19659012] Maduro asks to be alert to the alleged invasion of the United States

Venezuelan President Nicolás Maduro called on the military to "not let his guard down", echoing the press reports in the United States that in August the counterpart Donald Trump raised the possibility of invading Venezuela

"You can not let down a second because we will defend the most great right that our country in all its history (…) to live in peace ". Wednesday at a ceremony of promotions of generals and admirals.

The president quoted US press reports that Trump interviewed several of his political advisers last August. Apart from the possibility of invading the oil country

The approach was made "at a meeting on sanctions" that Washington imposed on the Maduro government, CNN said, citing a senior official close to these comments

However, "Trump's advisers vehemently rejected this idea, as well as other Latin American leaders who reportedly told Trump that they did not want to see an American invasion. ", adds CNN.

Maduro contends that these versions prove the veracity of his allegations that Washington plans to attack Venezuela militarily to seize its vast reserves of crude oil.

"Chance? This is not a coincidence," said the president, indicating that Trump's question to his advisers came "after a visit by Venezuelan opponents to the White House."

"He will never be an intervention of the US empire a solution to the problems of Venezuela, never, but our armed forces (…) has the responsibility to be ready to defend the national territory in all conditions that we have to defend it, "said Maduro

for his part Diosdado Cabello, president of the Constituent Assembly who heads the country with absolute powers, announced an investigation for" treason against the country "against the opponents who "demand a military intervention."

On August 11, 2017, Trump gave signs that he was considering an alternative force against Maduro, whom he calls "dictator" and whose re-election is unknown on May 20.

"We have many options for Venezuela, including This possible military option if necessary," Trump told reporters

This extreme has generated immediate reactions even among Washington's allies in the region as this would open a phase of instability with unpredictable consequences.

This controversial statement, Vice President Mike Pence began a tour in Colombia, Argentina, Chile and Panama, which served to reduce the tension of uncertainty and ensure the region that the White House would give priority to multilateral actions

Grupo de Lima condemns the lack of freedoms in Venezuela

Based on information from AP

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