new bills flown into venezuela
Last Updated : GMT 09:07:40
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

In currency crisis

New bills flown into Venezuela

Egypt Today, egypt today

Egypt Today, egypt today New bills flown into Venezuela

Venezuela's National Guard soldiers patrol the streets
Caracas - Arab Today

A jetload of new currency finally arrived in Venezuela after its delayed arrival sparked protests and looting that jolted President Nicolas Maduro's unpopular government.

The government had briefly pulled from circulation the largest-denomination 100-bolivar bill without replacing it on Thursday, due to the delay.

People around the country took to the streets protesting, there was widespread looting in the south and the government boosted the number of troops on the streets.

Bolivar Governor Francisco Rangel Gomez said one person had died and 262 people were detained in his state, where 3,200 soldiers were deployed to "restore order."

The (100-bolivar) bill is worth about 15 US cents at the highest official rate, and until recently accounted for 77 percent of the cash in circulation in Venezuela.

Venezuela has the world's highest inflation rate. The government is trying to introduce new bills in much higher denominations since most people have to carry around bags full of cash for everyday transactions.

"There are 272 crates of 50,000 500-bolivar bills," the Central Bank's number-two official Jose Khan said on state-run television on Sunday.

Khan said this first shipment would be followed by two more, adding up to 60 million units of the 500-bolivar bill.

Denominations of up to 20,000 bolivares are expected to follow.

Maduro blamed the delay on "US Treasury Department sabotage." The bills were made in Sweden.

Maduro, a former bus driver, has presided over an unraveling of Venezuela's oil-rich economy as crude prices have plunged. He and predecessor Hugo Chavez have made the economy increasingly state-led.

Citizens face long queues to buy basic supplies and inflation has soared.

Maduro's government also blames speculators for hoarding the 100-bolivar bill. The country's borders with Brazil and Colombia have been shut until January 2 in a bid to boost security and put a dent in black marketeering.

On Sunday, angry locals could be seen waiting to get through, many shouting at troops in riot gear. Many locals also rely on cross-border trade for their livelihoods.

Analysts have warned there is a risk of unrest in Venezuela, which Human Rights Watch says is in the grips of a "humanitarian crisis." Anti-government protests in 2014 led to clashes that left 43 people dead.

Source: AFP

egypttoday
egypttoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

new bills flown into venezuela new bills flown into venezuela



GMT 06:56 2017 Monday ,04 December

Venezuela creating digital currency

GMT 07:58 2017 Saturday ,25 November

Venezuela PDVSA makes payments

GMT 11:27 2017 Sunday ,17 September

Saudi is ready to expand production cuts

GMT 10:53 2016 Wednesday ,14 December

Venezuelans back and forth to bank

GMT 11:55 2016 Saturday ,10 September

US-wary Venezuela opens up
 
 Egypt Today Facebook,egypt today facebook  Egypt Today Twitter,egypt today twitter Egypt Today Rss,egypt today rss  Egypt Today Youtube,egypt today youtube  Egypt Today Youtube,egypt today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

egypttoday egypttoday egypttoday egypttoday
egypttoday egypttoday egypttoday
egypttoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
egypttoday, Egypttoday, Egypttoday