Critics in parliament see the petro as a way
for Maduro to avoid the financial sanctions imposed by the West on Venezuela.
For Maduro in particular, who enjoys his party's support only insomuch as Chávez chose him as his successor, any move seen as a concession to the opposition and «capitalist enemies» would be political suicide.
Analysts have speculated that petro proceeds are a way
for the Maduro government to sidestep U.S. sanctions against the socialist regime.
But the cards are seen as a token of support
for Maduro, and many citizens refuse to carry them.
Not exact matches
Maduro has said the country will keep servicing its obligations
for now.
Maduro, 53, quickly acknowledged the defeat, the worst
for the ruling «Chavismo» movement since its founder Hugo Chavez took power in 1999.
Most of the region voiced support
for the July 16 referendum convened by the opposition against the assembly, and the EU and the US have suggested they could level sanctions on the
Maduro government should the July 30 vote go ahead.
The candidate from her party running in Buenos Aires — the country's biggest province — has demurred when asked about the situation in the Venezuela, saying that he did not know «in detail» what was going on there, later stressing the differences between the tenures of Chavez and
Maduro and calling
for dialogue with a third party, such as the Pope.
Meanwhile,
Maduro is running
for another six - year term in a general election next month.
Maduro has said he plans to offer a total of 100 million Petros, with a starting price of $ 60 each,
for a total of about $ 6 billion.
Venezuelan president Nicolas
Maduro is doubling down on his support
for the Petro, encouraging the country's banks to mine and use the recently - launched national cryptocurrency.
Maduro has also reportedly ordered several state - owned companies, including an oil and natural gas company and aluminium and gold producers, to use the Petro
for a percentage of their sales and purchases moving forward.
The government long decried such accusations as «smear campaigns,» but last year
Maduro started blaming «thieves»
for rampant graft in the oil sector.
Utterly dependent on oil exports
for revenues, the resources available to
Maduro are vanishing.
President Nicolás
Maduro recently said that Venezuela will hold the presale
for its oil - backed, state - issued cryptocurrency, the petro, on February 20, and that the government will distribute mining equipment to universities, savings banks, and other institutions.
CARACAS, May 3 (Reuters)- Venezuela said on Thursday it arrested 11 top executives of the country's leading private bank Banesco
for allegedly hurting the OPEC nation's ailing currency, the latest move against the private sector that unpopular leftist President Nicolas
Maduro blames
for a deep...
«There is a fight between Diosdado and Tareck
for control of the industry,» said Hebert Garcia, a former army general who later broke with
Maduro and fled the country.
The political turmoil and mass resignations threaten
Maduro's government, which depends on oil
for 90 percent of export revenue.
The country's opposition is angry that Goldman has, in effect, made life easier
for the central bank — the previous owner of the state - controlled Petroleos de Venezuela bonds — thereby propping up Mr.
Maduro's regime.
Several analysts have opined that Petro is merely an opportunity
for President
Maduro's administration to cover its debts.
Questionable elections
for a rubber - stamping new assembly may give President Nicolas
Maduro more power.
Moreover, its hope is that the petro will return monetary sovereignty to Venezuela by creating a new avenue
for financial transactions that will, in
Maduro's words, «overcome the financial blockade».
Maduro has not outlined to what currency the petro will be pegged, how it will be developed, whether it will be freely traded, or how it will be exchanged
for these reserves.
The country, suffering from skyrocketing inflation and rampant food and power shortages, is currently operating under a «constitutional state of emergency» as protestors call
for the removal of President Nicolas
Maduro.
The Venezuelan President Nicolas
Maduro appealed the «Bolivarian Alliance», consisting of ten states, to accede to the project
for the creation of the cryptocurrency — El Petro secured by oil.
Venezuelan crisis intensifies after vote, arrests Following a disputed election
for a new legislative body last weekend, in which voting tallies were reportedly manipulated, and the arrest of two high - profile opposition leaders, Venezuelan president Nicolas
Maduro faces increased pressure both from within Venezuela and without.
The debt relief couldn't come at a better time
for Venezuelan President Nicolas
Maduro.
Maduro blames Trump administration sanctions
for making U.S. banks unwilling to participate in financial transactions with the Venezuelan government, either as buyers or payment processors.
«It's a strong message
for the people of Venezuela and it's a strong message to
Maduro,» U.S. Ambassador to the United Nations Nikki Haley told reporters at a briefing.
Critics of President Nicolas
Maduro's socialist government point to the administration's own missteps
for the country's spiraling quadruple digit inflation, making common goods too expensive
for most residents.
Maduro explained that he is going to to charge in petro
for all the fuel sold at the border between Venezuela and Colombia.
That perhaps lends credence to critics» assertions that the petro is just a virtual barrel of oil, an attempt by the
Maduro government to raise billions of dollars in foreign exchange in order to keep the government in operation without having to do the actual hard work of drilling
for and shipping oil.
Maduro's critics in Venezuela have denounced the planned digital currency, claiming that the new digital currency is a fraud, an attempt to compensate
for Venezuela's lack of oil production.
During the height of the protests, in a speech made March 5, 2014 at a military parade in Caracas marking the one year anniversary of Chávez's death,
Maduro proclaimed, Chávez «the Redeemer of the poor» and said that the poor were calling to Chávez the «Redeeming Christ of the 21st Century» to help them against the capitalist protestors attempting to undo all he had done
for the poor.
Maduro realizes that it is not enough to have beautiful modern stores, RTW promises customers «unmatched service» which calls
for continuous employee training.
Maduro has been with RTW
for 32 years.
By Alan Dorich >> Executive Chairman Delma
Maduro has been with British Virgin Islands - based food retailer Roadtown Wholesale Trading
for more than 30 years.
President Chávez, anticipating the possibility of another election when beginning his medical treatment abroad, announced that the candidate
for the revolutionaries should be the current vice-president Nicolás
Maduro.
In spite of this, the military seems much more behind the revolution than it was in 2002; in a choreographed move, all of the generals and leading officers of the armed forces announced their support
for the government immediately after
Maduro announced Chávez's passing.
So has Rep. Mario Diaz - Balart, a Miami Republican who in February called López «one of many pro-democracy members of the opposition... that have been imprisoned
for running afoul of the corrupt
Maduro regime.»
Fellow Tory MP Hugo Swire, who attended the same school in Sussex as Sir Nicholas before also going on to Eton, recently hit out at Jeremy Corbyn's failure to condemn Huge Chavez and Nicolas
Maduro by noting that their «failed socialist policies have done
for Venezuela what Mugabe has done to Zimbabwe».
Meanwhile, as protests rocked Caracas on Saturday and civil war appeared all but inevitable, opposition factions are vying to oust President Nicolas
Maduro, who has blamed the United States
for the unrest in his country.
Vice President Mike PenceMichael (Mike) Richard PenceAnti -
Maduro Venezuelans not unlike anti-Castro Cubans of yore Congress is still doing nothing to save Christians in the Middle East Liberal students, colleges should learn from Liberty University's civility MORE will be in Virginia later this week to stump
for Republican gubernatorial nominee Ed Gillespie, according to Gillespie spokesman David Abrams.
His highlights from that tenure included covering the death of Hugo Chavez and the unraveling that followed under President
Maduro; a story on the busty mannequins manufactured in Venezuela to match the local obsession with plastic surgery; a story on the Yawar fiesta, an annual celebration in a few remote Andean towns in Peru where a condor is tied to the back of a bull
for a ritual bullfight; and, ah yes, the great secret service prostitution scandal from President Obama's visit to Colombia, in which he was the only reporter to find and interview the two hookers at the center of the scandal.
Monday saw Mr
Maduro, who is now acting president, officially register his candidature
for the presidential elections on 14 April.
«What will it take
for Corbyn to finally urge
Maduro to stop the violence, the human rights abuses, the poverty and the killings?»
On Tuesday, Florida GOP Reps. Carlos CurbeloCarlos Luis CurbeloAnti -
Maduro Venezuelans not unlike anti-Castro Cubans of yore Farm bill revolt could fuel Dreamer push Three Republicans join climate change caucus MORE and Ileana Ros - LehtinenIleana Carmen Ros - LehtinenOvernight Defense: Over 500 amendments proposed
for defense bill Measures address transgender troops, Yemen war Trump taps acting VA chief as permanent secretary Defense bill amendment would protect open transgender military service Tensions on immigration erupt in the House GOP MORE called on Pruitt to resign or be fired.
Maduro hopes that it will raise hard currency
for the cash - strapped country, and help ease trade with foreign suppliers in the face of US sanctions imposed last year.
I was looking
for a somewhat healthier version of the fried
maduros.
«We are beyond excited to be hosting the World Travel Awards Latin America Ceremony
for the very first time at Hard Rock Hotel Riviera Maya,» commented Frank
Maduro, vice president, marketing
for the AIC Hotel Group, owner of Hard Rock Hotel Riviera Maya.