EU levies threaten Harley Davidson's business plan - How open is China's open-door policy? –Venezuelan town creates its own currency
Starting in 2014, members of the country's elite and public officials embezzled more than $1 billion from Venezuela's state-owned oil company. The scheme exploited the country's foreign exchange system.
Venezuela is in the middle of an economic meltdown, facing chronic inflation and an acute shortage of essential goods. The government wants to tackle the situation by raising fuel prices. But that could prove tricky.
In a bid to combat hyperinflation, Venezuela has unveiled new paper money with five fewer zeros. It comes after the IMF warned that the nation's inflation could reach one million percent this year.
The Venezuelan economy is in freefall, crippled by a currency crisis that has seen inflation soar to farcical levels. The country’s populist government introduces measures on Monday aimed at halting the collapse.
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