Venezuela To Postpone the Launch of New Currency: Maduro

Venezuelan President Nicolas Maduro announced Tuesday that the country will postpone the change of currency with a delay of about 60 to 90 days.

He will disclose the exact delay on Wednesday after the country's ministers examine the best options for the national economy.

The measure was approved during a meeting with executives and representatives from the public bank about the country's economic development, which took place in the government's house in Caracas.

Aristides Maza, head of the banking association, stated that the currency change was an achievement for Venezuela. However, the delay initially estimated for the launch did not guarantee its success, he said, suggesting to postpone the measure for about 90 days and to allow that the two currencies would coexist during a transition period.

Maduro expressed his preference for a 60-day delay, due to the situation of economic emergency, but he left the final decision for Wednesday.

He also agreed with the period of simulation and the coexistence of both currencies. He asked recommendations and advice from the executives and representatives of the banking sector in order to guarantee the “economic peace.”

On the same day, the president met with the media organizations of the country in order to open the dialogue and work on a peaceful relation.

“We must close access to the paths that leads far away from the Constitution and from peace. No to violence, yes to peace,” he said, insisting in building alternatives. “Some believe that the more U.S. sanctions there are, the more the Revolution will be cornered,” referring to a few opposition leaders.

“Economic sanctions are not a way of doing politics, this is damaging directly our People.”

teleSUR's President Patricia Villegas stressed out that media outlets must learn how to tell the Venezuelan reality to the world. “What we are telling about Venezuela.... this country has many shades and we should demand ourselves to call for actions so we all commit to this country,” she said, adding that “Venezuela's people deserves it and needs it.”