Venezuelan pensioners protest for the payment of pensions in cash – La República CE

Venezuelan retirees today organized demonstrations in several regions of Caracas and other states to demand the full payment of their pensions in cash, while physical money is lacking in the country and after dawn doing long queues in the banks

"They gave us (…) 2 million bolivars (16 or 0.8 dollars according to the official exchange rate used) "in the bank, " and the rest (6,400,000 bolivars, 53 or 2,56 dollars) that we have removed by card and most of the elderly do not know what it is with this card " said América Diaz to VIVOplay online channel.

The woman who participated in a demonstration in the center of Caracas, a territory considered a stronghold of Chavismo in power, explained that grandparents demand the full payment of their pensions in cash because the food products of Debit card are more expensive.

you will buy with the card The debit and debit card fees are double, triple, then you come with your money and you buy cheaper " says.

Venezuelan retirees receive 3,000,000 bolivars (25 or 1,1 dollars) for their pension and usually charge their monthly payment if they attend the days determined by the government for that, otherwise they will receive only a maximum of 200,000 bolivars (1.6 dollars or 0.08

However, the Venezuelan Social Security Institute (IVSS) – the agency responsible for granting pensions in the Caribbean country – announced yesterday that it would pay a retroactive amount of 3,000,000 bolivars plus one Venezuela, the country with the largest oil reserves in the world, is going through a serious economic crisis that results in hyperinflation, a shortage of medicines, food and even money money p

Venezuelans Eat They suffered from the shortage of cash at the end of 2016, after President Nicolás Maduro ordered the withdrawal of 100 bolivars – the largest denomination at the time – and which was spilled three days later.

There are resellers of physical money who invoice, by electronic transfer, up to 250% of the price to grant a certain amount.

In other regions of Caracas and other states like Bolívar (south) and Cojedes (west) Returnees also organized demonstrations in the previous days asking for increases in their pensions because that, they say, what they charge is not enough to cover their basic needs. EFE