The President of the Bolivarian Republic of Venezuela, Nicolás Maduro, announced on Monday that from August 20 the country will have two accounting units, the Sovereign Bolivar and the second will be governed by the value of the Petro, which will be used in a compulsory manner by Venezuela’s state oil company Petróleos de Venezuela (PDVSA), doing all its operations and registering them in the aforementioned accounting unit.
During a meeting with the economy cabinet, the national leader indicated that this measure will be implemented in order to break the economic siege that has been induced in the country by the US and Colombian oligarchy in recent years.
“This system will completely end the speculation of the Venezuelan currency”, he said.
The economic recovery program also foresees anchoring a new wage and pricing system that will mean a substantial improvement in the income of workers.
“The maximum sale price to the public will appear again and must be respected in a scrupulous manner, thus the Central Bank of Venezuela must guarantee it”, he added.
He stressed that the trading system that makes life throughout the national territory will not have excuses for speculation.
