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Venezuela postpones currency move after chaos, protests

19 December 2016 07:57 am - 0     - {{hitsCtrl.values.hits}}

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REUTERS, 18th DECEMBER, 2016-Venezuelan President Nicolas Maduro suspended on Saturday the elimination of the country’s largest denomination bill, which had sparked cash shortages and nationwide unrest, saying the measure would be postponed until early January.
The surprise pulling of the 100 bolivar note from circulation this week - before new larger bills were available - led to vast lines at banks, looting at scores of shops, anti-government protests and at least one death.
Maduro, speaking from the presidential palace, blamed a “sabotage” campaign by enemies abroad for the delayed arrival of three planes carrying the new 500, 2,000 and 20,000 bolivar notes.
“One plane, contracted and paid for by Venezuela, was told in flight to change direction and go to another country,” he said, without specifying who had given the orders. “There’s another which was not given flyover permission.”


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