Venezuela Promises Pregnant Women a Handout That's Worth Almost Nothing

Venezuela’s President Nicholas Maduro announced during an annual address that pregnant women will soon be awarded a small cash subsidy. The monthly payment of 700,000 bolivars is, at the current exchange rate, worth about $3.83, according to CNN. The subsidy would have been worth $17 as recently as last November; hyperinflation amid a collapsing economy is likely to make the subsidy worth even less in the weeks to come. More…