Carlos Garcia Rawlins/Reuters
- Venezuela has announced another series of desperate measures to try and save its economy from collapse.
- The government will devalue to Venezuelan bolivar by 95%, and peg it to the government’s oil-linked cryptocurrency.
- Venezuelan authorities are trying to contain rampant inflation of more than 1,000,000% per year.
Venezuelan President Nicolas Maduro announced a series of drastic economic reforms over the weekend, in another desperate attempt to prop up the country’s flailing economy.
The key changes, which will come into effect from today:
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SEE ALSO: The petro — Venezuela's government-issued cryptocurrency — launches today
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