“No experts were involved.” That’s what Venezuelan President Nicolás Maduro said of his new plan to raise taxes, take five zeros off the currency (renamed the sovereign bolívar) and hike the minimum wage some 3,400 percent. Around 90 percent of Venezuelans now live in poverty and the International Monetary Fund expects inflation to reach 1,000,000 percent. More than 500,000 have fled the country this year and migration to Brazil is rising even after attacks on refugee camps over the weekend. Meanwhile, opposition groups called a nationwide strike today to protest the new plan.

unnamed-2-163

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s