In Venezuela, President Nicolas Maduro signed an emergency decree ordering the country's largest banknote, the 100 bolivar bill, taken out of circulation to thwart mafias he accused of hoarding cash in Colombia.<br/><br/> The announcement came yesterday as the government of Venezuela, a country in the midst of an economic crisis and crippled with the world's highest inflation,prepares to<br/>issue new banknotes and coins in values up to 200 times the<br/>highest denomination currently available.<br/><br/>The President said yesterday on his TV show Contact with Maduro that in accordance with my constitutional powers and through this emergency economic decree, I have decided to take the 100 bolivar bill out of circulation in the next 72 hours. Maduro said the move was necessary after a Venezuelan investigation found that billions of bolivars, in bills of 100, were stashed away by international mafias, mainly in Colombian cities but also in Brazil.<br/><br/>Maduro ordered all land, air and sea possibilities closed immediately so that they do not return those notes that were taken
News On AIR | December 12, 2016 8:37 AM
Venezuela President orders 100-unit banknotes out of circulation