Monday 14 June 2021

Venezuela Without Currency Despite Alleged Shipments

Nicolas Maduro’s government has still not delivered the new money supply to the Venezuelan people (Noticia al Dia).

TODAY VENEZUELA – Although shipments of Venezuela’s new 500 bolivar bills have allegedly arrived in Venezuela, Venezuelans have not yet seen the promised deliveries.

On Tuesday, the government of Nicolás Maduro announced that a third shipment had arrived with 35.5 million such bank notes; but in the streets there is still no trace of the new bill that was supposed to come into circulation starting on December 15.

“710 boxes have just arrived with 500 bolivar notes coming from Stockholm, which will complete our projection of 60 million units,” José Khan, vice president of the Central Bank of Venezuela (BCV), told state television.

- Advertisement -

According to the official the BCV also received seven million new bank notes. One of these prototypes will replace the 100 bolivar bill that will also stop circulating come January 2, and which currently has a value equivalent to USD $0.15.

The BCV claimed that in December, 99.5 million bills of 500 bolivars would be put into circulation; a figure which economists deemed insufficient, due to the fact that in November, before Maduro’s questionable plan to replace the 100 bolivar notes, there were roughly 6.1 billion 100 bolivar notes in circulation.

“The bills that have arrived represent barely more than 5% of the quantity that was withdrawn from circulation,” said economist Hasdrubal Oliveros.

The coins of Venezuela’s new money supply began to appear this Wednesday, December 28, in some parts of the capital, Caracas.

- Advertisement -

The 50 bolivar note, which features on one side the profile of Simón Bolívar and on the other the Venezuelan shield, circulates in limited quantities in informal shops, according to journalists from the news service AFP.

Maduro abruptly announced that the 100 bolivar notes would be withdrawn from circulation, citing the need to combat organized crime groups intent upon destroying the Venezuelan economy.

However, few economists believe the measure will improve the dismal economic fundamentals in the South American nation, which has faced several years of rampant inflation, shortages, corruption, and insecurity.

Source: Infobae; Sumarium

This article originally appeared on Panampost.com

- Advertisement -

Article originally appeared on Today Venezuela and is republished here with permission.

- Advertisement -

FACT CHECK:
We strive for accuracy in its reports. But if you see something that doesn’t look right, send us an email. The Q reviews and updates its content regularly to ensure it’s accuracy.

Q24N
Q24N is an aggregator of news for Latin America. Reports from Mexico to the tip of Chile and Caribbean are sourced for our readers to find all their Latin America news in one place.

Related Articles

Long lines and confusion as Venezuela begins COVID-19 vaccination

Q24N (Reuters) Hundreds of senior citizens and health workers stood in...

Bolsonaro compares quarantines to Maduro’s dictatorship

Q24N - Brasilia (EFE) The president of Brazil, Jair Bolsonaro, said...

MOST READ

Vaccine Tourism – A Practical Guide

By Amy Gdala, Guest Contributor - The US has a surplus of vaccines, while Costa Rica is struggling to supply sufficient numbers to citizens...

Tilaran, where the wind blows

QCOSTARICA - For years, Tilarán has seen the transit of tourists heading towards Lake Arenal, the homonymous volcano and La Fortuna or towards Monteverde. At...

eHow to Become Successful in Online Casino Betting 

To become a successful gambler in the online industry, there is a lot to cover. It can be known to be a vastly different...

Nicaragua’s Foreign Minister absent from the summit of Central American presidents

QCOSTARICA - The Daniel Ortega government sent its ambassador to Costa Rica, Duilio Hernández, as its representative to the summit of Central American presidents...

COVID vaccines in the workplace: Can I ask who got their shots?

(DW) Jon works for the local government in the US state of Virginia. The 40-year-old received both his COVID shots in April. Most of...

Your cell phone can now notify you if you had contact with a positive case of covid-19

QCOSTARICA - Fifteen months after the national emergency against covid-19 was declared, Costa Ricans will have a digital platform where you can be notified...

Kamala Harris begins tour in Guatemala

Q24N - Arriving in the Guatemalan capital about two hours late, after the plane in which she was traveling had to turn around due...

Daniel Ortega undertook a hunt for presidential candidates and opponents

TODAY NICARAGUA – In an unprecedented persecution, the Daniel Ortega regime detained four presidential candidates in one week, a move that is part of...

Bus stops could be a covid-19 contagion bomb

QCOSTARICA - It's five in the afternoon on any given Wednesday in San José. Hundreds of people returning to their homes begin to crowd...

WANT TO STAY UP TO DATE WITH THE LATEST!

Get our daily newsletter with the latest posts directly in your mailbox. Click on the subscribe and fill out the form. It's that simple!

Article originally appeared on Today Venezuela and is republished here with permission.

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.