Now the biggest bill in Venezuela 100 bolivars.
Venezuela, the second year is experiencing a severe economic crisis, no money left even to pay the bills for the printing of the local currency. About it reports Bloomberg with reference to sources.
In the years of high oil prices to produce the inside Venezuelan bolivars was not profitable, so the government placed orders in mints around the world and imported its own currency aircraft. In the midst of economic crisis, nothing has changed – only aircraft with money began to fly to Caracas is more common, but the government had no currency to pay for the printing of bolivars.
Now the biggest bill in Venezuela 100 bolivars. You can buy with them is that a cigarette in the tent; for larger expenses you have to carry around bags of money. The 500% inflation per annum devalues them quickly; however, neither the denominations nor the introduction of new banknotes with great dignity in Venezuela have not been forthcoming.
The first signs of deficit of the national currency occurred in Venezuela in 2014. Before the elections to the Congress of 2015 in Caracas placed an order for 2.6 billion of the new banknotes in the British company De La Rue, Oberthur Fiduciaire, a French and German Giesecke & Devrient.
At the end of 2015, Venezuela increased its order to 10 billion banknotes. For comparison, the United States prints 7.6 billion banknotes a year, despite the fact that the volume of economy of the USA and Venezuela are incomparable.
A significant part of the order went to De La Rue, but then it turned out that paying Venezuela nothing. According to unofficial data, Caracas the British owed the firm $ 71 million, and she will be forced to inform the shareholders that the debt is not extinguished.
Sources Bloomberg reported that the disruption of payment from Venezuela originated in June 2015. Thus, when Caracas had increased its order, mints already knew that he might not be able to pay. In the end, they invited Caracas to print only a total of 3.3 billion banknotes. According to Bloomberg, after that, the Central Bank of Venezuela began to seek new partners and, in particular, held talks with the Russian Goznak. What they ended is unknown.
Related posts:
Banknotes of 200 and 2000 rubles will become a prototype for the upgrade of all bills
Questions of alternate history: about the survivability of aircraft carriers
Alternative money as protection against the redistribution of social wealth in the interest
The most impressive in the history of aircraft carriers. Photo
