Venezuela said it will introduce new large-denomination bolivar notes as hyperinflation renders most bills worthless, forcing citizens to turn to the U.S. dollar for everyday transactions.
The country’s central bank posted a statement on its website Friday saying it would begin circulating the new 200,000, 500,000 and 1,000,000 bills to “fulfill the current economy’s requirements” without providing further details. The 1,000,000 note — the largest in the nation’s history — is worth only $0.53 cents.
What great news for Venezuela. Their socialist economy has ked to every single citizen now being a millionairre.
As Venezuela’s economy shrank for a seventh straight year in 2020
I recall the Greens spent years railing against economic growth. So here’s what you get without it.