End of preview - This article contains approximately 2105 words.
Subscribers: Log in now to read the full article
Not a Subscriber?
Choose from one of the following options
Back
Latin American Economy & Business - December 2016 (ISSN 1741-7430)
Venezuela: Monetary chaos
An untimely decision to withdraw the largest bolivar note from circulation (BsF100) in an overly-ambitious three-day period has sparked monetary chaos in Venezuela. President Nicolás Maduro has pledged to introduce new, higher denomination notes, but in the interim, there is a severe nationwide cash shortage. It is difficult to identify the government’s logic for its move, since it is damaging pre-Christmas retail sales, undermining the remaining vestiges of confidence in the local currency, fuelling more inflation and destabilising the financial sector. And in political terms, the botched decision will further erode Maduro’s standing.
- Venezuela: Monetary chaos
- Region: What to do about hyperglobalisation?
- Brazil: Going off-script?
- Colombia: Waiting for the fiscal reform
- Mexico: Carsten tightens – and leaves
- Trinidad and Tobago: Recession deeper than expected
- Region: A tentative recovery in 2017
- Region: Latin America still lagging in education
- Ecuador: Looking forward, after a tremulous year
- Mexico: Energy reform: on the ‘slope of enlightenment’?
- Region: Corporate Radar