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Venezuelan President Nicolas Maduro announced that his country would cancel five zeroes of its Bolivarian currency, instead of the three zeros originally planned, in an effort to adjust to inflation that should reach $ 1 million this year.
Inflation could be as high as seven this year, with the Venezuelan crisis similar to the Zimbabwe crisis in the first decade of the third millennium and the German crisis of the 1920s.
Maduro said Wednesday in a televised speech "August), introducing new documents on banknotes [196590] 04] He noted without specifying that the new reform would link Bolivar to the state-sponsored digital currency, recently launched under the Petro's name.
The OPEC economy is steadily deteriorating since the collapse of oil prices in 2014 Maintaining its socialist economic system that has provided generous government support over the years with strict price controls
The annual inflation in June exceeded 46,000%, according to the Congress controlled by the opposition.
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