Sunday 26 September 2021

Maduro creates Venezuela’s first Petro special economic zone

Paying the bills

Latest

Government will buy one million more covid vaccines for children and third doses in 2022

QCOSTARICA - The President of Costa Rica, Carlos Alvarado,...

Don’t forget the vehicular restrictions

QCOSTARICA - If you are out and about this...

UNA epidemiologist: “We are not better, we are less worse”

QCOSTARICA - The fact that the number of infections...

Today’s Vehicle Restriction September 26: “ODD” ending plates CANNOT circulate

QCOSTARICA - For today, Sunday, September 26, vehicles with...

Canadian airlines will start flying back to Costa Rica on October 2

QCOSTARICA - Four Canadian airlines will resume their flights...

8-year-old boy dies abruptly of covid-19

QCOSTARICA - An eight-year-old boy who had no risk...

Vaccinations face unfounded fears over AstraZeneca dosages

QCOSTARICA - The goal of immunizing 500,000 people over...
Paying the bills

Share

Venezuela’s Margarita Island will be the country’s first special economic zone (SEZ) to use the national cryptocurrency, the Petro, President Nicolas Maduro said on Thursday.

Margarita Island, Venezuela’s Caribbean holiday island will be the country’s first special economic zone

Maduro said he signed a presidential decree making duty-free Margarita Island, in northeast Nueva Esparta state, a “special economic zone for the use of the Petro as a currency for purchases, for exchanges within the free zone.”

The president, who is hoping to be reelected on May 20, announced the news at a campaign stop in Nueva Esparta.

- Advertisement -

Earlier this year, Venezuela launched the first cryptocurrency in the world to be backed by a nation’s natural resources in a bid to overcome U.S.-imposed sanctions that cut off its access to capital markets.

The oil- and mineral-backed Petro has generated millions of dollars, according to the government.

Article originally appeared on Today Venezuela and is republished here with permission.

- Advertisement -
Paying the bills
Q24N
Q24N is an aggregator of news for Latin America. Reports from Mexico to the tip of Chile and Caribbean are sourced for our readers to find all their Latin America news in one place.

Related Articles

Mexico finds a Latin American ally in Venezuela’s Maduro

Q24N - The recent summit of the Community of Latin American...

Venezuela government, opposition return to talks in Mexico

Q24N - Delegations from the Venezuelan government and opposition resumed talks...

Subscribe to our stories

To be updated with all the latest news, offers and special announcements.

Article originally appeared on Today Venezuela and is republished here with permission.

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.