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in Costa Rica

Venezuela on edge as Maduro unveils raft of economic reforms

by TICO TIMES Saturday 18 August 2018, 4:54 pm 1.8k Views

CARACAS, Venezuela—Uncertainty reigned in Venezuela on Saturday after President Nicolas Maduro unveiled a major economic reform plan aimed at halting the spiraling hyperinflation that has thrown the oil-rich, cash-poor South American country into chaos.
Ahead of a major currency overhaul on Monday, when Caracas will start issuing new banknotes on Monday after slashing five zeroes off the crippled bolivar, Maduro detailed other measures he hopes will pull Venezuela out of crisis.
Those measures—revealed in a speech to