Brief: Venezuela rolls out new bill amid cash shortage
Venezuela is launching its new 100,000-bolívar bill, the country's largest, which is worth US$2.42 on the black market.
"Starting this week the new 100,000-bolívar banknote will enter circulation to complete the Venezuelan monetary cone," said President Nicolás Maduro on state television on Wednesday, when he accused Colombian President Juan Manuel Santos of attacking Venezuela's economy by allowing black market trading on the countries' shared border.
Back in December 2016, Maduro announced the new "monetary cone" to take the 100-bolívar note out of circulation, creating panic and long lines at banks. Since then, the 100-bolívar bill is still circulating and few higher-denomination bills have been seen, as Venezuelans face a shortage of cash due to the country's hyperinflation - which according to the IMF may exceed 2,300% in 2018 - and the government hoards dollars to make debt payments.
Pictured: President Maduro shows off the design of the new bill, which says "one hundred thousand bolívares" underneath the number 100.
Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.
News in: Political Risk & Macro (Venezuela)
Coronavirus forces partial Brazil economic U-turn
The government will abandon its fiscal target for this year.
Brazil considers closing its border with Venezuela
Plans to restrict entrance from Paraguay or Bolivia due to the coronavirus do not exist, however.
Subscribe to Latin America’s most trusted business intelligence platform.
Other projects
Get key information on thousands of projects in Latin America, from current stage, to capex, related companies, key contacts and more.
- Project: Sewerage system and water treatment of the city of Puerto Maldonado (Puerto Maldonado WWTP)
- Current stage:
- Updated:
2 days ago
- Project: Mexico Lindo Solar PV I photovoltaic park, El Chapote
- Current stage:
- Updated:
2 days ago
- Project: O'Higgins Hospital Network: Pichilemu Hospital
- Current stage:
- Updated:
2 days ago
- Project: San Nicolás
- Current stage:
- Updated:
3 days ago
- Project: Closure of the Combined Cycle of the Brigadier López Thermoelectric Plant
- Current stage:
- Updated:
2 days ago
- Project: Solaroz
- Current stage:
- Updated:
2 days ago
- Project: New Port Terminal of San Juan de Marcona (Megaport)
- Current stage:
- Updated:
2 days ago
- Project: Coangos
- Current stage:
- Updated:
2 days ago
- Project: Parque fotovoltaico Renewable Energy World Dominicus
- Current stage:
- Updated:
3 days ago
- Project: Don Bosco
- Current stage:
- Updated:
2 days ago
Other companies
Get key information on thousands of companies in Latin America, from projects, to contacts, shareholders, related news and more.
- Company: Hydrostec Tubos e Equipamentos Ltda.
- Company: Kueski S.A.P.I. de C.V.
- Company: Aconcagua Minerals SpA
- Company: CENTRAL EÓLICA PAU BRANCO
- Company: UFV WALTER FRÓES VI LTDA
- Company: CENTRAL EÓLICA PEDRA ROSADA
- Company: Santo Antônio Energética SPE SA
- Company: SOLIS ENERGIAS RENOVÁVEIS SPE LTDA
- Company: UFV WALTER FRÓES VII LTDA
- Company: GILSUN GERAÇÃO DE ENERGIA SPE