Pasajes Economic Security (PES) has announced the launch of a new initiative to help Venezuelan farmers with food and agricultural products, which they can buy with their pesos.
The program is named “Cómo para las agroecosas” (Papa’s agriculture), and aims to provide “an alternative for the poor, rural and urban communities”.
According to the website, the program aims to “make the poorest rural families more secure in their agricultural sector by providing them with agricultural products which will improve their quality of life”.
Pesos Economic Security also announced that it has received more than 4 million pesos from the Venezuelan government to support the program, which it said will be paid to the poorest farmers.
“This project will help the families of the poor and rural communities who cannot buy food or other agricultural products at the market, and will give them a new way to make their living and improve their lives,” said José Luis Lopez, secretary general of the PES.
The government has previously made it a condition of receiving the money that the farmers have a minimum of 5 percent of their harvest in their pocket.
However, in practice, the farmers are typically left with nothing.
The PES program, said Lopez, will provide “a better livelihood for the Venezuelan people”.
It is not the first time that the government has been making use of the Venezuelan Pesos to support farmers.
The country’s agricultural sector was devastated by the country’s economic crisis in the mid-2000s, when the Venezuelan peso plunged from nearly 60 to as low as 1,500, according to the UN Food and Agriculture Organization (FAO).
The collapse in prices led to widespread protests, which led to the death of hundreds of thousands of people and forced millions of people to flee their homes.
The Venezuelan government has blamed the crisis on “economic warfare” by foreign governments and the United States, and is now trying to re-establish control over the country.
Since 2014, it has imposed a series of sanctions on the country, including freezing the assets of those who have been linked to alleged human rights abuses, in order to force the Venezuelan leadership to abandon its policy of destabilising the country through sanctions.