As Venezuela’s monetary changes are on their way, a report from Reuters describes how things are not going as smoothly as President Nicolas Maduro may have wanted, especially when it comes to the new point-of-sale systems at the country’s gas stations.
Adding to the list of problems such as hyperinflation, food shortage, and a sub-par healthcare system, Venezuela now has to deal with long lines at gas stations because the point of sale infrastructure is not yet ready.
In short, the new point-of-sale system at the gas stations either hasn’t been added yet, or it isn’t functional, a fact pointed out by Jose Coronel, a Venezuelan in line at a gas station in Urena, who told Reuters the following: “I see a lot of disorganization because they haven’t started making this work yet.”
Details about the new payment system and the “fatherland card.”
The new wireless PoS system requires a “fatherland card.” With its help, citizens will be able to purchase gas. This card provides its holders with the possibility of paying less for gas, as without it, citizens will soon have to pay international gas prices. The new system is also thought-out to fight against gas smuggling. President Maduro announced that the country’s gas prices would reach international prices in October this year.
So far, the Petro doesn’t seem to be as useful as Maduro hoped. It’s not uncommon news that many Venezuelans and various financial analysts still view the oil-backed cryptocurrency as a poor attempt to fix Venezuela’s hyperinflation crisis.
Considering the fact that the hyperinflation shows no signs of stopping, Venezuela is well on its way towards becoming a full-fledged humanitarian crisis in Latin America, as more and more of its citizens are fleeing the country in the search for a better life.