Tuesday, December 13, 2016

THIS IS WHAT HYPERINFLATION LOOKS LIKE: Venezuelan President Closes Border with Colombia to Combat Currency Smuggling

Venezuelan President Maduro has closed the border with Colombia for 72 hours to combat currency smuggling.

Also, Venezuela, experiencing the world's highest inflation, will pull its largest bill, worth two U.S. cents on the black market, from circulation this week ahead of introducing new higher-value notes,  Maduro said on Sunday.

 Economic consultancy Ecoanalitica estimates that the country's annual inflation this year at more than 500 percent.



 -RW

1 comment:

  1. A socialist success. Everyone is a millionaire!

    ReplyDelete