Venezuela resorted to desperate measures to arrest economic collapse yesterday, lopping five zeros off the bolívar, devaluing it by 95 per cent and tying it to an obscure state-run cryptocurrency.
Opponents of the socialist government of Nicolás Maduro have called for strikes and protests today, when shops and financial institutions reopen after a bank holiday that was used to put the drastic reforms into effect.
As it tries to curb hyperinflation — by some measurements, the worst in Latin American history — the government is also slashing fuel subsidies and raising the minimum wage by 3,000 per cent.
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