Venezuelan president approves ‘Workers’ Bank’ amid rising inflation

by Jesus Silva, Press TV

Venezuelan President Nicolas Maduro announced the creation of the National Bicentenario Workers’ Bank, which is the government’s biggest investment in the state-owned financial system. The bank will provide special financial services to the working class, women and members of the commune movement.
Maduro said the government is developing over 500 branches of the bank nationwide and more than 1,000 automatic teller machines for the National Bicentenario Workers’ Bank. Experts say the workers bank has an international significance. The Venezuelan president also approved the creation of a commission to oversee recovered, occupied or nationalized companies, improve productivity, and fight against economic warfare.

Despite the recent measures to meet the workers demands, some Venezuelans say they are still concerned about the economic problems which remain unresolved. While the opposition accuses the government of failing to resolve problems such as inflation, socialists believe that President Nicolas Maduro is making significant moves to improve the economy.
They also maintain that the National Bicentenario Workers’ Bank will generate important benefits for the Venezuelan working class.

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