July 28, 2024

Deepening divisions: Venezuela’s haves and have nots

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Faced with US sanctions, rampant hyperinflation and a spiralling economic crisis, President Maduro responded by removing the price controls and easing the capital controls introduced by his predecessor and fellow socialist, Hugo Chávez. With the local currency increasingly hard to come by due to the sky-high inflation rate – a cup of coffee with milk can set you back almost 1.5m bolivars in Caracas – Mr Maduro also begrudgingly accepted the use of the US dollar. By Katy Watson. Full Text-> BBCNews

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