Worthless Paper
Worthless Paper

Worthless Paper

Worthless Paper

Venezuelans have been given just three days to swap their biggest bolivar notes for coins. The South American nation will withdraw all 100 bolivar notes and replace them with coins of the same face value within 72 hours, state-run news agency AVN said. President Nicolas Maduro said the emergency decree was aimed at “mafias” smuggling the notes outside the country. They would be stuck with worthless paper, he said. It’s the latest in a series of desperate measures by the Venezuelan government to contain a spiraling economic crisis. Inflation could hit 500% this year and 1,660% in 2017, according to the International Monetary Fund.


Short URL : https://goo.gl/VxIwBw
  1. https://goo.gl/y1JUwe
  • https://goo.gl/4CwTv5
  • https://goo.gl/jNUDTi
  • https://goo.gl/t43rRZ
  • https://goo.gl/5ScjeO

You can also read ...

Indonesia’s interest rate rise highlights need for urgent defensive action.
Argentina's return to financial chaos might seem remote to...
Pakistan Retains Stable Rating
Moody’s Investors Service said that Pakistan’s (B3 stable)...
Real growth of the oil sector was  14.77% year-on-year in Q1.
Nigeria’s economy expanded for a fourth straight quarter in...
Goldman Says US in Dire Straits
Goldman Sachs’ analysts delivered a weekend note on the United...
Taiwan Economic Sentiment Weakens
Sentiment toward Taiwan’s economy weakened in May after the...
Chan Chun Sing (L) and CEO of the Singapore Business Federation Ho Meng Kit,  at The Business Times Leaders Forum on Monday.
With the rise in unilateralism and protectionism, the...
Copper Edges Up
Copper edged higher on Monday after China and the United...
Investments by state enterprise rose 11.5% from a year earlier.
Thailand produced its fastest economic growth in five years in...

Add new comment

Read our comment policy before posting your viewpoints