Venezuelan Dictator’s Decision Puts Country Into Chaos
Bolivar city descended into chaos on Monday when Venezuelan government retracted 100 Bolivar notes although 87.1 responders in an independent poll expressed their strong opposition.
On Friday concerned Venezuelans took on the streets in desperation that resulted in four days riots which claimed at least 5 deaths. There were number of looting of private homes and public buildings recorded including 100 businesses.
The special units of 500 armed officers intervened in Bolivar together with local police forces. Police arrested and detained 262 alleged robbers, Bolivar state governor Francisco Rangel Gómez said during local radio interview.
On Friday, Venezuelan dictator Nicolas Maduro told a cabinet meeting that over the next few days, the Central Bank of Venezuela (BCV) will circulate 327 million units of 50 bolivar bills, and 65 million units of a new 500 bolivar note, after deciding to take the 100 bolivar bill out of circulation.
“Let’s continue fighting against the financial mafias that are hurting our economy,” said Maduro, who cited the exchange houses around the country — especially in Colombia border towns — which have been hoarding over 300 million of the bills.
This decision ignited more protests of Venezuelans who have already been suffering from the shortage of food, and other goods due to the economic crises caused also by hyper-inflation, government debt and ineffective economic policy.
“In Tumeremo 40 businesses, mostly Chinese, were looted; In El Callao, another 30; And in Guasipati, 45, “the local journalist reported via Twitter.
The majority of the commercial premises belongs to the citizens of Chinese origins.
Despite intervention the situation in Bolivar was still unstable.
(AP, teleSur, El Norte, pht)