Venezuela's President Nicolas Maduro Devalues The Currency By 96% - Hallo friendsTODAY'S NEWS AND ACCREDITED, In the article you read this time with the title Venezuela's President Nicolas Maduro Devalues The Currency By 96%, We have prepared this article for you to read and retrieve information therein. Hopefully the contents of postings Article BANKING, Article CULTURE, Article ECONOMIC, Article HOTELS, Article POLITICAL, Article SOCIAL, Article SPORTS, Article TOURISTS, Article TRAVELING, We write this you can understand. Alright, good read.

Title : Venezuela's President Nicolas Maduro Devalues The Currency By 96%
link : Venezuela's President Nicolas Maduro Devalues The Currency By 96%

Venezuela's President Nicolas Maduro Devalues The Currency By 96%

© Miraflores Palace / Reuters

CNBC/Reuters: Maduro orders 96 percent devaluation in hyperinflation-stricken Venezuela


 * "I want the country to recover and I have the formula. Trust me," Maduro said in a nighttime speech broadcast on state television.
 * Economists expressed doubts that Venezuela's cash-strapped government, which faces U.S. sanctions and has defaulted on its bondholders, would succeed.

Venezuela's president Nicolas Maduro announced on Friday a single exchange rate pegged to his socialist governments petro cryptocurrency, effectively devaluing by 96 percent in a move economists said would fan hyperinflation in the chaotic country.

In one of the biggest economic overhauls of Maduro's five-year government, the former bus driver and union leader also said he would hike the minimum wage by over 3,000 percent, boost the corporate tax rate, and increase highly-subsidized gas prices in coming weeks.

"I want the country to recover and I have the formula. Trust me," Maduro said in a nighttime speech broadcast on state television.

But economists expressed doubts that Venezuela's cash-strapped government, which faces U.S. sanctions and has defaulted on its bondholders, would succeed.

Read more ....

Update: Venezuelan shopkeepers alarmed by Maduro's latest economic moves (Reuters).

WNU Editor: Devalue the currency by 96%. Pegged the bolivar currency to the government’s petro cryptocurrency that no one understands let alone trusts. Increase the minimum wage by over 6,000 percent. Boost the corporate tax rate to what is essentially 100%. And increase the price for highly-subsidized gas prices in the coming weeks. I have one word to describe this .... insanity. If I was living in Venezuela .... after today I will be trying my best to organize a revolution.

Thus Article Venezuela's President Nicolas Maduro Devalues The Currency By 96%

That's an article Venezuela's President Nicolas Maduro Devalues The Currency By 96% This time, hopefully can give benefits to all of you. well, see you in posting other articles.

You are now reading the article Venezuela's President Nicolas Maduro Devalues The Currency By 96% with the link address https://todaysand.blogspot.com/2018/08/venezuelas-president-nicolas-maduro.html

Tweet

Subscribe to receive free email updates: