MEXICO CITY (Pakistan Point News / Sputnik - 15th December, 2018) Venezuelan President Nicolas Maduro has urged regional partners from the ALBA trade bloc to switch to the digital Currency he launched this year.
"I propose that ALBA make the petro cryptocurrency the center of its monetary efforts to liberate the economy," he said at the organization's meeting in Havana, Cuba.
Venezuela and Cuba created the trade bloc in 2004 to promote economic integration based on socialist values. It is made up of ten Latin American and Caribbean nations.
Earlier this month, Maduro lobbied for the use of the oil-backed digital coin in trade with Russia. Its value was pegged in February to the price of a barrel of Venezuelan oil, trading at $60, which now equals 9,000 bolivars.
