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Economic war on Venezuela, Demonetisation was purely political: Envoy Montiel

By FnF Correspondent | PUBLISHED: 01, Feb 2017, 19:27 pm IST | UPDATED: 04, Feb 2017, 16:24 pm IST

Economic war on Venezuela, Demonetisation was purely political: Envoy Montiel New Delhi: In a hard hitting attack on the western and US interventions in the Latin American country, Venezuelan Ambassador Augusto Montiel on Tuesday said that demonetisation in his country was a purely political decision and had nothing to do with economics. 'We demonetised currency not because of economic reasons but due to economic war against Venezuela,' he said at an interaction with IWPC members here.

'What has not been said in the international media is that 80 per cent of the 100 Bolivar bills were out of Venezuela at the time the decision was taken to put demonetisation into effect. They were in Colombia and they have been smuggled out of the country by political mafia which wanted Venezuelan economy to fall.

He revealed that the value of Bolivars went up 50 per cent in one week. 'Inflation bubble was manufactured and burst in first week of demonetisation,' said Montiel, while emphasising that his country’s population is 100 per cent literate. Montiel claimed that Venezuela does not have any debt and added that demonetisation is a technique, resource that any country can use in one way or other for stability.

'There is international operation to deplete Venezuela of the 100 Bolivar notes. The situation in December continued, President Maduro said because the 80 per cent bills are outside in Colombia… and we are suffering and monetary attack that night on the border of Venenzuela and Colombia hundreds of lorries with Bolivian 100 notes were trying to get back in Venezuela. The decision to close the border was not reported either. Hundreds of lorries tried to come back but could not.

He emphsised that the news disseminated by western media is all that is fed to the world which does not paint the true picture of Venezuela. He said they do not report stories about the prosperous Venezuela, its 100 percent literacy, its no debt condition, successful health sector, digital banking, democracy and how President Maduro's government is helping with cheap oil hundreds of Americans living on the border of Venezuela as a humanitarian concern. 

Ambassador Montiel said there is no crisis in Venezuela as the people fully support President Maduro's government which is a democratic socialist government but is portrayed as dictators by the US. He said they have intentions of controlling Venezuela as we are the biggest suppliers of oil with the largest reserves. Montiel said Venezuela and India have robust trade ties and that they will continue helping India in all ways.