Venezuela’s 100-bolivar note is to be pulled from circulation, in an attempt by the government to crackdown on criminal gangs – who profiteer from trading on the Colombia-Venezuela border. But critics argue the move will only further punish ordinary Venezuelans struggling under the country’s faltering economy.
Venezuela’s inflation rate is running at an estimated 500% and shortages of food and medicine is pushing the population to the brink of a humanitarian crisis. President Nicholas Maduro, who has come under increasing criticism for his handling of the economic crisis, says a criminal network of gangs is selling vastly-subsidised goods to Colombia, who then sell them on for huge profits.
In October, officials blocked an attempt to hold a referendum recall of his government. And Maduro has promised to see out his term in office, which is due to end in 2019.
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