The use of Petro crypto in Venezuela is now becoming a must rather than choice.
In a press conference last Friday, Venezuelan Vice President Delcy Rodriguez said that a new passport will cost citizens two petros, an amount worth 7,200 bolivars which is about (~$115) this according to a report by Bloomberg.
Two Petros or 7,200 bolivars is Venezuelans four times minimum monthly wages.
Why is Petro Crypto Being Forced on Venezuelans?
Well, with the hardships Venezuelans are currently experiencing, many seeks to flee the country’s economic hardship and humanitarian crisis. Thus, with that amounts to obtain a passports, it might be a strategy adopted by the country’s authority to prevent citizens from traveling out.
More also, Venezuela just announced the establishment of a police force specifically to tackle migration, as Finance Magnates reports, the insistence on petro payments for passports and the increased price point seem aimed to stem the tide of people seeking to flee Venezuela.
What’s your opinion on Venezuelans being forced to pay for passports with the country’s controversial petro cryptocurrency? Share your opinion with us on the comments section below.