Venezuela Supports Idea to Create Regional Currency

Venezuela’s President Nicolas Maduro delivers a speach during a press conference to launch to the market a new oil-backed cryptocurrency called “Petro”, at the Miraflores Presidential Palace in Caracas, on February 20, 2018InternationalIndiaAfricaMEXICO CITY (Sputnik) – Venezuelan President Nicolas Maduro expressed support for the idea to ​​create a regional currency. Previously, plans to create a regional currency were announced by the authorities of Argentina and Brazil.Earlier, the leaders of Brazil and Argentina said such talks were under way.”Venezuela is ready and we support the initiative to create a Latin American and Caribbean currency,” Maduro said during a march in Caracas against blockade and sanctions.”Independence, unity and liberation for Latin America and the Caribbean!” he said.Earlier this week, Brazilian President Luiz Inácio da Silva, speaking to reporters in Buenos Aires, said discussions ongoing with Argentina on plans to create a single regional currency, aiming to reduce the region’s dependence on the dollar and facilitate trade. Such plans already existed before, and their development was resumed with the arrival of Luis da Silva to power.

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