Venezuelans have been confronted with yet another problem. Individuals have been facing hardships to get access to the Petro cryptocurrency in order to pay for their passports, according to reports by Bloomberg.
The Vice President of Venezuela, Delcy Rodriguez stated that the new passports would cost two Petro [7,200 Bolivars] which are reportedly four times more than the monthly minimum wage of Venezuelans.
At an event last week, President Nicolas Maduro announced the restructuring of Petro. This announcement was made almost eight months after the official release of Petro.
Petro tokens, backed by oil and mineral reserves will reportedly be availabe for sale from November 5th. However, there has been an increase in corruption and shortage in the availablity of materials. This, in turn, has resulted in Venezuelans spending a vigorous amount of time in queues to apply and secure passports.
The latest data of the United Nations stated that more than 5,000 individuals leave Venezuela on a daily basis due to the intense humanitarian and econimic crises.
Furthermore, the enforcement of Petro could result in making it extremely difficult for Venezuelans to travel across the border. This is because the country has been “cut off” from major Latin American airline carriers, including Avianca, Latam Airlines, United Airlines, Aeromexico and Deutsche Lufthansa.
Moreover, Venezuelans have crossing border illegally in a pursuit to enter Colombia. Currently, almost 1 million Venezuelans reside in Colombia.
Angelo, a cryptocurrency enthusiast stated:
“Our Homeland Venezuela advances to giant steps towards prosperity thanks to the faith, confidence, daily work and love of the people that our comrade President Nicolas Maduro has to advance with firm steps to the Bolivarian Socialism”
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