Sunday, December 18, 2016

Chaos in Venezuela: the most Important Venezuelan Money is for the time being … – TIME ONLINE

unrest throughout the country has enabled Venezuela’s President Nicolás Maduro, the most important Banknote of Venezuela. He had decided, the validity of the 100-Bolívar note, up to 2. To extend January, Maduro said on state television.

Thursday of this bill had not been accepted as a means of payment. The actually for the same day planned issuance of larger denominations with a value of 500 to 20,000 Bolívares had been delayed. Therefore, it lacked millions of Venezuelans to have enough cash to buy food and Christmas gifts.

had formed In the past few days, hence long queues in front of banks, lots of ATMs of cash. In several places there was an outbreak of violence.

A report in the newspaper El Nacional, according to the mayor of the municipality of Sifontes cried in the southern state of Bolívar, a state of emergency, after the shops were looted. In Maracaibo, the second largest city in the country, pelting of angry protesters on Friday, according to Reports, police officers with stones. Also in the city of Maturín, there were road blockades and looting. As an eye-witness said, was looted a poultry Transporter. The market of Maturín will be guarded by soldiers.

money smuggling should be curbed

In his televised address, Maduro complained of an “international act of sabotage” that have led to the Situation. Abroad aircraft, which had been loaded with the new banknotes for Venezuela, for a change of course forced. The government have already organized new deliveries.

Maduro has also made politicians of the Opposition for the riots. There is photo and Video evidence for the participation of opposition deputies to “attempted acts of vandalism and violence,” he said.

The exchange of the existing Bank notes had been justified by the fight against international mafia gangs. They have moved, according to the government of billions in 100 Bolívares-Seem to be abroad, especially to Colombia. Maduro sees this as a US-backed conspiracy to the economic destabilisation of the country. Therefore, the borders remained after Colombia and Brazil to 2. January continues to be closed, so Maduro.

hundreds of Venezuelans have crossed since the border closure of the border with Colombia. The people broke through the cordons of security forces, such as the transmitter Caracol Radio reported.

the Devastating economic crisis

The invalidated of 100 Bolívares-Bills accounted for more than three-quarters of the circulation of cash in Venezuela. The bill was due to Inflation, however, less than three US cents in value.

Venezuela is among other things due to the deterioration in the price of Oil in a heavy economic crisis with drastic price increases, and more and more also in a political crisis. The International monetary Fund (IMF) expects that in 2016, with an inflation rate of 475 percent. Due to supply shortages there were in the South American country of unrest and looting. The Opposition makes Maduro for the country’s economic problems.


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