The Venezuelan Petro will be in the global trade

[Paha87]

Venezuelan President Nicolas Maduro doubles his conviction that the Petro token created by the state will help solve the country's chronic inflation and take measures to stabilize the economy.

During a televised speech on Thursday in which he touched on economic issues, Maduro announced the adoption of Petro in international trade since October. The announcement was made despite the doubts of economists and analysts that the token will be accepted in international markets.

The President of Venezuela noted in his speech on the state TV channel:

Petro is [in circulation] as a currency of exchange, purchase and convertible currency for the whole world.

It is not yet clear in which sectors the country's global trading companies will use the token, which was officially launched in February. However, Maduro added that the introduction of Petro into global trade occurs after the development and implementation of the token within the framework of the country's economic recovery program.

Events unfold soon after Maduro announced that the country's new currency, the sovereign bolívar, would be tied to the oil-backed Petro token. He then ordered national banks to use Petro as the accounting unit.

As previously reported, shortly after the launch of the national token, Maduro demanded that some state-owned companies convert a percentage of their sales to Petro. However, lawmakers in Venezuela have said the plan is" illegal, " and US President Donald trump has also signed an order to impose new sanctions against the country banning deals in Petro.

Link to information resource - https://altstake.io/news/venesuelyskiy-petro-okaghetsya-vglobalynoy-torgovle