“Venezuela’s Currency Madness” Editorial, The New York Times, 20 December 2016

“The Unrest and violence in Venezuela are entirely the doing of the Maduro government, which has spent years suppressing the opposition and imposing arbitrary currency controls that have made a once prosperous economy one of the world’s most dysfunctional”

On December 11th, President Nicolás Maduro announced that the 100 bolivar bill would be out of circulation in three days. A measure taken in order to stop a plot to accumulate Venezuelan money abroad. People would have to exchange the money at the central bank in ten days or it would become worthless. We know how it ended. Venezuelans surrounded banks and A.T.Ms, protesting and trying to exchange their bills. Shops stopped accepting the 100 bolivar bill, paralysing an already wrecked economy. This resulted in riots across the country. Maduro announced days later that the plan would be delayed and accused the US and Obama of accumulating the Venezuelan currency to paralysed the economy. But the only responsible for this situation is Maduro and his government. The US tried to make the Government and opposition talk and offered to help delivered humanitarian aid. But Maduro refused. The opposition tried to oust Maduro by holding a referendum but his loyalists were able to stop it. In one Month Trump will have to deal with the crisis of Venezuela. Trump should avoid any word war with Maduro because “Venezuela’s failing leader would happily use any excuse to claim foreign intervention to justify even greater repression of his people

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“Venezuela’s Currency Madness” Editorial, The New York Times, 20 December 2016


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