Venezuela, the pension also turns into a currency?

Venezuela’s government has automatically switched monthly payments for award recipients to the state-owned cipher Petro (PTR). The Venezuelan government, which is suffering from inflation, has begun implementing various measures for petro supply.

Petro has begun formal sales at the end of October with state-run passwords linked to oil. Google is stopping the use of Petro Digital wallets, so you can purchase them from Petro’s official website or government office. According to reports, on December 7 (local time), government pension payments were made to the recipients using the legal currency, Bolivar. But then it is automatically converted to Petro and the balance is a brief description of Petro Saving.

Since January 2017, Venezuelan pensioners have used the government’s motherland card scheme to award bonuses. The card is linked to a mobile wallet that can access government web portals since January of this year. Through the Motherland card system, the government has established a structure for accessing pensions and other social security benefits, and the government has been pushing people to abandon the official banking system, and the government is trying to get them to the way they want. The idea of a motherland card and two petro-fuels is an attempt to force the people to secure full control over their finances and to accumulate Petro as a defense against the government’s hyperinflation. For more information, please click here .