Venezuela earned $ 3.3 billion by selling its cryptocurrency


2018-04-28 17:30:05




1Like 0Dislike


Venezuela earned $ 3.3 billion by selling its cryptocurrency

The Venezuelan Government, faced with the aggravation of the financial crisis, will release into the economy $ 1 billion resulting from the sale of Petro for its new cryptocurrency. This was stated by the President of Venezuela, Nicolas Maduro. He added that the purpose of the sale of cryptocurrency tokens were increased international reserves and reserves of foreign cash and the termination of growth of the black market dollar.

Despite the existence of the country's largest proven deposits of crude oil, the foreign reserves of Venezuela has dropped to $ 9.7 billion in the United States, while this year the country must pay about $ 8 billion.

Sales of the "Petro" — the new cryptocurrency of Venezuela, which was released in February, brought $ 3.3 billion to the state Treasury. Of these, $ 1.7 billion will be allocated for the import of "foodstuffs, medicines and industrial goods".

Another $ 1 billion will be transferred to the Central Bank of Venezuela "for the auctions and continue the fight with the devil," said Maduro, referring to the "black dollar". In an effort to overcome the chronic shortage of liquidity and burdened US sanctions, Venezuela launched the first cryptocurrency backed by the government, hoping to end the crisis, razbiralsya country. It is worth noting that the US government has made it clear to its citizens and residents that the purchase of "Petro" can badly affect their financial rights and freedom.

The Economic problems of Venezuela are due largely to falling oil prices: the share of the sale of oil accounts for about 96% of the country's income. IMF commends economic collapse of Venezuela as one of the worst in modern history. Giant hyperinflation may lead to higher prices at 13 000%. Will the "Petro" Venezuela? Too early to say, but in dealing with the financial crisis .

Note also that in the West fear that the emergence of "scriptorama", supported by the Central Bank of the Russian Federation, will allow Russia to bypass sanctions all the same US. However, given the uncertainties in the regulation of cryptocurrencies in Russia is still too early to talk about the prospect of a second national digital currency.


DeepMind and Google: the battle for control of artificial intelligence

DeepMind and Google: the battle for control of artificial intelligence

One evening in August 2010 at the conference hall on the Bay of San Francisco came on the scene the 34-year-old Londoner by the name of Demis, Hassabis. Standing on the podium feigned gait of a man trying to control his nerves, he pressed his lips in...

From Elon musk was a hell of a difficult two weeks

From Elon musk was a hell of a difficult two weeks

it looks Like Elon musk chaos truly reigns. Businessmen usually like to present themselves as stable pillars of society, are trustworthy. On the background of Musk looks like a bully. If he behaved like, say, Tim cook, for us it would be akin to what...

TOP 8 online services-bookkeeping for business

TOP 8 online services-bookkeeping for business

On the market are online services to do your books for every taste and different needs. To facilitate your choice, we did some market analysis and determined a 8 "most-most". Understand what they have pros and cons, and then try to choose the best. ...

Comments (0)

This article has no comment, be the first!

Add comment

Related News

"Sberbank" will do from "Yandex.Market" "Russian Amazon"

Sberbank has invested 30 billion rubles in "Yandex" in the framework of a joint venture 60 billion rubles. RKB writes with the words of German Gref, the new site will become a "Russian Amazon". Work on the signing of the agreement...

Elon musk has proposed to

Elon musk has proposed to "remove" from the post of Chairman of the Board Tesla

a Few weeks ago, Tesla signed Elon musk on the role of CEO for another ten years. Since then, the electric vehicle company went through a series of setbacks, and when shareholders will convene for a regular meeting in June, they w...

WikiLeaks lost access to critical crypto account

WikiLeaks lost access to critical crypto account

WikiLeaks was not the best week to say the least. One of the largest cryptocurrency exchanges Coinbase has closed the account of WikiLeaks Shop for the alleged violation of the terms and conditions of service of the exchange. In o...