Petro Failed to Save Venezuela Economy

Petro Failed to Save Venezuela Economy

Hugo Chavez, its stalwart leader passed away after a long battle with cancer in March, 2013. Maduro who succeed him, inherited one of the most shaky economies in the whole South American region. Maduro visioned cryptocurrency(Petro) backed by oil, late in December, 2017. But it failed to control hyperinflation and high unemployment rate pushing the country into crisis.

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