Venezuela issued a new currency recently in an attempt to bolster its crumbling economy as the International Monetary Fund (IMF) warned that inflation could hit one million percent this year.

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The move, part of a dramatic raft of measures aimed at halting runaway hyperinflation, comes as thousands of Venezuelans continue to flee across the border into neighboring countries amid food and medicine shortages, political turmoil and soaring crime rates.
In a tweet posted following the unveiling of Venezuela’s new currency Monday, the country’s president Nicolas Maduro hailed the recovery package as a “revolutionary formula.”
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The country of Venezuela has faced historical violent protests during the past year, causing the deaths of over 150 people in 2017 alone, most of them protesters and one journalist. Back in April of 2013, Nicolas Maduro who used to be the Minister of Foreign Affairs to the ex-president Hugo Chaves, was elected President.
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Since about a year later in the spring of 2014, the country of Venezuela has encountered turmoil that reached its peak in violence in the spring of 2017. Back then, angry demonstrators took the streets of Caracas among multiple other cities throughout the country to protest against the strict regime of the new Maduro’s government.
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Apart from Caracas which all footage was filmed in, people in other cities demonstrated their anger towards the ”corrupted and dictatorial” government of Nicolas Maduro in San Cristobal, Valencia, Maracaibo and Maracay. Organizers of the demonstrations were the opposition parties and the national assembly including the citizens and the very politicians involved in these parties. Students and other young adults also took part in clashes between the national guard and national police.
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Reportedly, even the members of the government has illegal armed groups that intervened. The month of April 2017 ended up being one of the deadliest, leaving multiple dead during and after protests by being shot by armed forces with gas canisters, electrocuted while looting and shot while looting.
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During these large scales protests, among them the April 20th ”mother of all marches”, the streets of Caracas were paralyzed by hundreds of thousands of residents who marched and chanted. Students and other protesting groups marched on the Francisco Fajardo highway creating impressive wave-like displays of the large moving crowd.
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The new “Bolivar Soberano” currency is worth 100,000 “old” Bolivares.
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