Venezuelan president Nicolas Maduro has decided to get rid of the country’s most used currency bill. But since there have been widespread riots and general unrest throughout the country, Maduro has now postponed the move until January. In a national television and radio broadcast, Maduro explained to the country that…
Picking Through Trash and Giving Their Children Away; A Day in the Life of a Starving Venezuelan
Venezuela has been going through a devastating economic crisis for years now, but it has recently gotten so bad that hungry citizens all over the country are rummaging through the trash to feed their families. The numbers are sad and shocking. A study completed by Dolar Today, which is an…
Venezuela Government to Issue New Currency as Maduro Promises Economic Turnaround
In an effort to address soaring inflation rates, the Venezuelan government announced last week that it will begin issuing currency in higher denomination units on December 15. The new measure comes after the bolivar’s steepest decline yet last month, falling 67% between the end of October and November. One U.S.…
Inflation So High in Venezuela, Cash No Longer Fits in Regular Wallets
In the U.S., paper makes up about 35% of all landfill waste. However, Venezuela’s paper problem has gotten totally out of control as inflation continues to skyrocket. In fact, in Venezuela, going to an ATM and taking out the equivalent of just five U.S. dollars produces a fistful of 100…