Latin America's most calamitous economy
now faces an additional hardship to go along with its hyperinflation and lack
of basic goods: how to take out of circulation 48% of its paper money. Venezuelan
President Nicolás Maduro stunned the beleaguered nation when he announced on
state TV on Sunday that the 100-bolívar bill would be eliminated in order to
fight contraband at the border with Colombia. Maduro has accused
"mafias" of snatching up bolívares to buy Venezuelan goods and sell
them for a profit in Colombia, blaming the crime networks for the country's
shortage of goods. More…
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