[ad_1]
Venezuela: next suppression of five zeros of the currency (Maduro)
Caracas – President Nicolas Maduro announced Wednesday that Venezuela will soon remove five zeros from its currency, the bolivar, while inflation in this in crisis could reach 1.000.000% this year according to the IMF.
"August 20 starts (…) the plan of economic recovery with the reconversion monetary, five zeros in less", declared Mr. Maduro in During a meeting of his cabinet.
Initially, the president announced the printing of new notes with three zeros less, a measure that should have come into force on August 4.
Originally scheduled for June 4 Lastly, the introduction of a new currency had already been postponed at the request of the Central Bank.
The measure announced Wednesday by Nicolas Maduro aims, according to him, to "facilitate financial transactions" and "protect " the bolivar
"Five zeroes less to have (…) a new stable financial and monetary system", said the Venezuelan head of state.
M. Maduro argues that the economic crisis and hyperinflation in his country are the result of an "economic war" by the Venezuelan right and the United States to overthrow him.
(© AFP / 26 July 2018 01h08) < ! –
(AFP / 26.07.2018 03:10)
->
Source link
