Main menu

Pages

Children playing with the Bolívar banknotes after they lost their value in Venezuela


Several children gathered in the streets in the state of Zulia, on the border with Colombia, to play with the Bolivar currency notes after losing their value in Venezuela, and they were playing football and sleight of hand with the Bolivar cards, the currency of Venezuela that was crushed by the highest inflation rate in the world.


The Spanish newspaper, La Bangordia, published a video of children playing with bolivar cards as if they were worthless cards. . "Here the bolivar really went down in history," comments Jonathan Moran, 32, a farmworker, from a pantry office filled with Colombian produce, cheaper than local produce.


Since it is a neighboring region of Colombia, there are not very few people who usually convert dollars to peso in Puerto Concha because it facilitates retail purchases. Obviously, this does not happen with the US currency because informal dollarization limits the flow of low-grade banknotes and complicates operations.


With this new monetary "adjustment", "Venezuela becomes the country in Latin America that has removed the largest number of zeros from its currency," says economist José Manuel Puente, convinced that the cycle will repeat in a few months.


The paper noted that currency instability has led to the expansion of the use of the Colombian peso in the border states, while the country is undergoing a process of de facto dollarization, which, although at odds with Chavismo's "anti-Yankee narrative," as Puente notes, is seen as An "escape valve" in the face of an economy reeling from eight years of stagnation and four years of hyperinflation.

reactions

Comments