Delcy Rodriguez, the vice president of Venezuela stated in a press conference on Friday, October 5., that all passport fees can be paid with the only legal cryptocurrency, Petro – state-issued digital currency.
Starting from next week, costs for all applications will be able to be paid only with Petro, and the charge will increase; for an extension 1, for a new passport 2 Petros are required.
According to Bloomberg, the average monthly minimum salary is four times less than the increased passport fee cost.
As reported by Latin American newspaper El Universal, Rodriguez said: “In the case of Venezuelans who are abroad, until the first day of November the cost will be $200 for issuance and $100 for extensions,”
Venezuela struggles with the side-effects of extremely high inflation as well as a weakening economy by adopting the use of digital currency to avoid capital controls.
Petro is the President Nicolas Maduro’s alleged solution to his country’s economic crisis, which courted regularly for accusations, claiming Petro’s creators copied Dash’s –an altcoin– whitepaper.
Additionally, Rodriguez also declared the establishment of a loyal migration police force, designed “to preserve citizen security and migration control”.
About 5,000 citizens escape Venezuela every day, reports Bloomberg.
Author: Berna Bayindir
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