The President of the Bolivarian Republic of Venezuela, Nicolás Maduro, announced on Wednesday, in the framework of a meeting with the economic team that the sovereign Bolivar will enter into force on August 20, anchored to the national cryptocurrency, the Petro.
«I announce that the monetary reconversion based on the economic recovery program will start on August 20 in a definitive way with the circulation of the new sovereign Bolívar that will have a new modality of anchoring to Petro, to change the monetary life in a radical way», he reported from the Sol del Perú Hall of Miraflores Palace.
The Head of State said that the monetary reconversion will be based on two components that will be the change of the new cone and the elimination of 5 zeros to the currency, thus facilitating economic transactions in the country, which in Maduro’s opinion will allow the economic recovery of the country.
Meeting with the national banking:
He informed that this Thursday will be held a meeting with public and private banks to discuss the entry mechanisms of the Bolivar Soberano (Sovereign Bolivar).
The highest authority of the nation, said that this measure will end the mafias that took the tickets of Venezuela, affecting the national economy.
«I ask for all the support of the country for the great changes that we will generate. There is no time for laziness, the time that is coming is to unite us, close ranks and throw ourselves into economic recovery. The mafias are over (…) we are going to completely restore the purchasing power of the nation. We are going to a big economic change», he said.
