Tag: bolivar

Venezuela’s New Currency Does Little So Far To Stabilize Economy

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Nicolas Maduro

by Hanna Bogorowski   Venezuela introduced a new currency on Aug. 20 as a hopeful solution to the country’s rapidly devaluing currency and skyrocketing inflation rates, but after just a few weeks, Venezuela is already seeing 100 percent inflation. The Venezuelan government issued the new currency, called the “sovereign” bolivar,…

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In An Effort to Stem Out-of-Control Hyperinflation, Venezuela Cuts ‘Five Zeros’

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Nicolas Maduro

Reuters   Venezuela on Monday slashed five zeros from prices as part of a broad economic plan that President Nicolas Maduro says will tame hyperinflation but critics call another raft of failed socialist policies that will push the chaotic country deeper into crisis. Streets were quiet and shops were closed…

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