Venezuela creating digital currency amid financing crisis
Nicolas Maduro
Caracas - Egypt Today
Venezuela is creating a digital currency to combat a financial blockade by the United States, President Nicolas Maduro announced Sunday.
The Petro will be backed by Venezuela's oil and gas reserves and its gold and diamond holdings, the president said in his weekly television program.
"This is going to allow us to move toward new forms of international financing for the country's economic and social development," the president said.
The government also announced the creation of a "blockchain observatory" -- a software platform for buying and selling virtual currency.
Although the president did not offer many details, analysts such as Henkel Garcia see the possibility of success as limited.
GMT 10:25 2017 Friday ,15 December
Venezuelan state oil company announces payments on certain bondsGMT 06:22 2017 Saturday ,09 December
Venezuela in new defaults on two bondsGMT 08:31 2017 Sunday ,26 November
Venezuela: PDVSA makes payments on $233 million debtGMT 12:02 2017 Thursday ,23 November
Venezuela debt defaults pile up with fresh S&P warningGMT 09:53 2017 Thursday ,16 November
PDVSA, Venezuela's oil gem far from its golden ageRussia tests new telemetry system during manned Soyuz MS-11 spacecraft’s launch
Moscow - TASS
The Astra-06 apparatus developed by specialists of Russian Space Systems (RSS) was used for the first time as additional telemetric equipment aboard the manned Soyuz MS-11 spacecraft launc...Read More
GMT 13:17 2017 Tuesday ,10 October
Thousands of settlers storm into Ibrahimi Mosque in Hebron
GMT 21:13 2017 Monday ,12 June
Saudi Minister of Oil says
GMT 08:51 2017 Sunday ,20 August
Planet marks new highs for heat, pollutants, sea level
GMT 12:30 2018 Friday ,14 December
Noriaki Kasai: 30 years of World Cup ski-jumping
GMT 09:18 2017 Wednesday ,16 August
Sudan discusses ways of promoting relations with UAE
GMT 08:20 2016 Tuesday ,05 July
Evans quits as lead host on BBC's 'Top Gear'
GMT 09:04 2017 Thursday ,04 May
BMW sees forecasts in reach
GMT 12:24 2017 Sunday ,12 November
Accidents leave one dead,eight injured in Dubai
GMT 10:33 2018 Sunday ,25 November
Barcelona salvage late draw with Atletico, Eibar shock Real Madrid
GMT 16:20 2018 Wednesday ,31 October
Austria boycotts UN migration pact
GMT 15:14 2017 Saturday ,25 February
Amira Hany finishes her new movie's filming
GMT 08:09 2017 Monday ,16 October
Kuwait condemns Somalia terrorist attacks
GMT 11:29 2018 Tuesday ,23 January
INJAZ Al-Arab young entrepreneurs Regional Competition
GMT 09:07 2018 Tuesday ,16 January
Feminist' Deneuve apologises to sex assault victims
GMT 17:30 2018 Tuesday ,02 January
Saudi artifacts on a worldwide tour, kicking off with Japan
GMT 03:24 2017 Saturday ,11 March
Sea swallowing White Cliffs of Dover
GMT 23:22 2016 Thursday ,11 August
Scientists identify 2 Zika proteins linked to microcephaly
GMT 07:56 2017 Thursday ,10 August
33 fugitives arrested in N. Sinai
GMT 14:08 2017 Wednesday ,20 December
Confrontations renew between Palestinians, Israeli forces in West Bank
GMT 10:36 2017 Tuesday ,25 April
Second hearing into Bachir Gemayel's assassination begins
GMT 13:04 2017 Monday ,24 July
Wife sues her husband for selling her ring
GMT 07:21 2017 Wednesday ,04 October
Egypt's Grand Mufti condemns terror attack in Bahrain
GMT 07:54 2018 Sunday ,02 December
US and China agree to 90-day ceasefire on tariffs after leaders' meet
GMT 07:18 2017 Sunday ,13 August
Yemeni army forces intercept ballistic rocket
GMT 11:05 2017 Tuesday ,21 March
McIlroy ready for Woodland revenge bid
GMT 09:54 2017 Wednesday ,05 April
Shakes off slow start to reach WTA Monterrey second round
GMT 06:47 2017 Wednesday ,16 August
Sisi visits Kigali Genocide Memorial as part of his visit
GMT 11:26 2017 Thursday ,10 August
For 'embarrassing' selfies with Mogherini
GMT 17:44 2017 Friday ,11 August
Somali soldier killed in suicide attack
GMT 18:05 2017 Monday ,14 August
Health Min. discusses cooperation with Jordan's amb.
GMT 10:01 2018 Sunday ,21 January
Honduras roads blocked in protests
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor