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Amid Debt Crisis, Venezuela Fails to Supply Larger Bills


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Amid Debt Crisis, Venezuela Fails to Supply Larger Bills

Jubilee USA Network

WASHINGTON - Venezuela missed a self imposed deadline to release new higher-denomination bills designed to help its citizens amidst rising inflation. The government failed to release 500 to 20,000 bolivar notes after the currency lost over half its value in November. The government also discontinued the 100 bolivar note, worth only a few US cents, leaving Venezuelans scrambling to exchange them for smaller bills. The International Monetary Fund (IMF) expects inflation to rise to 1,660% next year.

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