Maduro’s Plan to Eliminate the Use of Dollar in Venezuela

Venezuelan President Nicolas Maduro has announced that Venezuela will take the path of abandoning the dollar in economic transactions.

“This is our path, the path of the freedom economy, when currencies are not used to punish countries and impose sanctions,” Maduro said in an interview with local television on Monday.

Argentina announced earlier in April that it would switch to the Chinese yuan to pay for goods imported from China due to difficulties in supporting central bank reserves.

Last March, Brazil and China announced the establishment of a clearing house for non-dollar trading and dual-currency borrowing to facilitate financial transactions between the two countries and reduce reliance on the US dollar.

Source: News

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