Page-3 of Venezuela
Venezuela, Libya Lose UNGA Vote for third time in 3 Years
Venezuela and Libya were suspended from voting in United Nations General Assembly (UNGA) in 2018-19 session for not paying dues to 193-member world body. It was for third time in three years these countries have been suspended from voting for ..
Month: Current Affairs - February, 2018
Venezuela launches new virtual currency “Petro”
Venezuelan President Nicolas Maduro launched a crypto-currency “Petro” to advance issues of monetary sovereignty, make financial transactions and overcome the financial blockade. Beside this, Petro will also circumvent US-led financial sanctions. The digital currency will be backed by Venezuelan reserves ..
Petro: Venezuela launches new virtual currency
Venezuela has launched its own cryptocurrency called Petro to circumvent US-led financial sanctions. It will be backed by the country’s vast natural resource reserves. In this regard, Venezuelan President Nicolas Maduro has approved the creation of BlockchainBase observatory to oversee ..
Month: Current Affairs - December, 2017
Venezuela orders 100-unit banknotes out of circulation
Venezuela’s President Nicolas Maduro has signed an emergency decree ordering the 100 bolivar bill, the country’s largest banknote, out of circulation in the next 72 hours. This move has been taken to thwart mafias from hoarding cash in Colombia. Investigations ..
Mercosur revokes membership of Venezuela
The South American economic bloc Mercosur has suspended Venezuela from it for violating the bloc’s democratic principles and failing to meet its basic standards. The membership was revoked by the Foreign Ministers of the four founding members of Mercosur — ..
Month: Current Affairs - December, 2016
Centre-right MUD coalition wins 2015 Parliamentary election of Venezuela
Opposition Centre-right Democratic Unity Roundtable (MUD) coalition has won the 2015 Parliamentary elections of Venezuela. The MUD coalition won at least 99 seats in the 167-seat legislature of the National Assembly by defeating ruling United Socialist Party of Venezuela (PSUV) ..