Venezuelans who have had enough of the South American nation’s rampant inflation, government corruption, kidnappings and riots in the streets will have to first get their hands on some cryptocurrency before they can get out.
It’ll cost you two petros, or about 7,200 bolivars, to buy a passport. That’s about four times the national monthly minimum wage, according to Bloomberg. Vice President Delcy Rodriguez delivered the happy news during a recent press conference from Caracas.
Remember the petro? The token is meant to be backed by the OPEC member’s oil and mineral reserves. It replaces the old bolivar and is scheduled to go on sale starting Nov. 5, Bloomberg reported. Back in July the cryptocurrency was supposed be released in August. The delay might have been caused by the continual rejiggering of the currency in a nation where inflation is expected to reach 1 million percent.
Even if Venezuelans do get their hands on some petros, leaving the country is difficult because many airlines no longer do business there, according to Bloomberg. Read more here.