According to local news outlet Telesur, the savings plan is
part of the “Comprehensive National Cryptoasset Plan,” and will in its initial
phase “make available” 4 million petros, equivalent to 14,400 million sovereign
bolivars, the country’s fiat currency. The amount equals $240 million. The
savings plan is set to be available on an online platform called the “Plataforma
Patria,” which is reportedly accessible to 18 million Venezuelans with an
identity card. To take advantage of the savings plan, Venezuelans will have to
invest in sovereign bolivars. Venezuela’s vice president of the economy, Tareck
El Aissami, explained: “The savings method includes quarterly amortizations and
a final payment that can be executed between 90, 180 or up to 270 days, a
scheme that allows to safeguard the value of the investment “ More… 
Thursday, November 8, 2018
Maduro Bankrupted Venezuela — Now He’s Launching a Petro Savings Plan
According to local news outlet Telesur, the savings plan is
part of the “Comprehensive National Cryptoasset Plan,” and will in its initial
phase “make available” 4 million petros, equivalent to 14,400 million sovereign
bolivars, the country’s fiat currency. The amount equals $240 million. The
savings plan is set to be available on an online platform called the “Plataforma
Patria,” which is reportedly accessible to 18 million Venezuelans with an
identity card. To take advantage of the savings plan, Venezuelans will have to
invest in sovereign bolivars. Venezuela’s vice president of the economy, Tareck
El Aissami, explained: “The savings method includes quarterly amortizations and
a final payment that can be executed between 90, 180 or up to 270 days, a
scheme that allows to safeguard the value of the investment “ More… 
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