[ad_1]
The President of Venezuela, Nicolás Maduro has today postponed the monetary reconversion scheduled for August 4 until the day 20 of this month and announced his decision that this measure will reduce five zeros to the Venezuelan bolivar and not three as I had ordered it at first.
"Announcement that economic and monetary reconversion (…) will begin definitively on August 20 (…) and the reduction of five zeros to the Venezuelan currency through the sovereign bolivar" said the President of a speech transmitted compulsorily on the radio and television
Maduro indicated that the new monetary cone -with names more adapted to the national hyperinflation- "it will have a modality of anchoring to petro, the Venezuelan cryptocurrency " launched by his government and said that ministers of the economic space will explain this week the scope of these measures. 19659002] "A new monetary system (…) to stabilize and radically change the monetary and financial life of the country" he said.
The chavist leader pointed out that the new notes will come into circulation on August 20 ensure that the executive already has these documents, silencing opposition MPs who denounce that these new denominations are not yet in the country.
The new monetary cone "will have a basis of exchange and exchange based on the currency of the petrol, whose price is determined according to the value of the Venezuelan oil basket", added Maduro without further explanation.
The bolivar, Venezuelan currency, began to be added the qualifier "sovereign" of the past 1 May, to announce the prices next to its current denomination, and is part of the second monetary conversion that the country implements in ten years.
The value of current banknotes, which ap Enas have a decade in circulation, began to become insufficient for more than a year, when inflation, which exceeded 2,600% in 2017 according to the Parliament, has raised prices.
The government has repeatedly denounced that the Venezuelan ticket is "extracted" from the economy and diverted to smuggling by the mafias dedicated to the falsification of banknotes.
Opposition attributed to the mismanagement of the economy by the executive power. EFE
Source link
