Sunday, December 18, 2016

Riots in Venezuela in exchange for tickets – The Economist

Analysts and opponents questioned the decision of a Mature and cautioned that the elimination of the bill of the largest denomination, which represents almost half of the paper currency in circulation, which would generate a collapse in the country.

The venezuelan authorities militarizaron at least six localities and the capital of an eastern state after violent riots and looting that broke out in protest at the exit of circulation of the banknotes 100 bolivares.

president Nicolas Maduro attributed the violent incidents in the country to a “macabre plan” that would have been promoted by the united States, the opposition parties and local “mafias” to take out of the country banknotes of 100 bolivars, but gave no details.

Maduro said that police have arrested more than 300 people, including members of the opposition parties primero Justicia and voluntad Popular, for their participation in the violent events.

The ruler said, during his program radio show “in Contact with Maduro”, the increasing actions against Venezuela are part of the “final blow. The jackknife (Barack) Obama. A jackknife to create chaos, violence, division”.

Maduro defended the measure, which agreed last week to eliminate paper currency, claiming that it was a “counter-revolutionary” to deal with the groups that contrabandean tickets to Colombia and said that the eve took a “turn tactical need” and extended the validity of the tickets to hit the “mafias”, “to regain the venezuelan currency” and “prosecute the stability economic, financial, monetary, and social” of the country.

During the process of exchange of banknotes 100 bolivares authorities recovered 4,944 million of that denomination, and seized 573 million bolivars, said the governor who thanked the venezuelan people’s support for their recent actions.

Ciudad Bolivar, capital of Bolivar state, and the towns of El Callao, Guasipati, Ciudad Piar, Tumeremo, Umbrella, and Santa Elena de Uairen, close to the border with Brazil, were militarized after the violent disturbances that were recorded between Friday and Saturday in these populations, indicated to The Associated Press, the deputy opposition Américo de Grazia.

The more complex situation is presented the Saturday in Ciudad Bolivar, which is about 500 kilometres southeast of Caracas, where he presented on the eve looting of dozens of shops. “The looting was brutal in Ciudad Bolivar, the most serious of all the state”, said de Grazia.

Before the violent situation, restricted by the authorities from the Saturday afternoon traffic of motorcycles for 48 hours, and limited the passage of pedestrians and vehicles between 5 pm and 6 in the morning in Ciudad Bolivar.

The governor ruling of Bolivar, Francisco Rangel Gómez, stated the day before that 135 people were arrested in that entity after the violent incidents.

the town of Callao, where they were presented from Friday, violent protests and looting of stores, were sent 800 police and military personnel who remain on the streets to ensure order, told the AP the mayor of that mining community, Coromoto Lugo.

The violent events of Callao, left for 25 shops looted, 40 wounded, and a young man of 14 years died as a result of a gunshot, said Lugo. The Prosecutor General’s office opened an investigation for the murder of the young man.

In the town southwest of The Cold, of the state of Táchira, were also recorded on the eve of violent riots in which a group set fire to the mayor of that population in protest at the removal of the banknotes 100 bolivares, which are the largest denomination in the inflationary economy in venezuela.

security forces also strengthened surveillance in the western city of Maracaibo, the second largest in the country, after the violent events Friday.

Maduro justified the return of the banknotes of 100 bolivars, alleging that the three planes that were to transport a batch of new tickets to Venezuela were “victims of a sabotage”, but offered no details. He added that one of the planes that brings the tickets should arrive in the country in the next few hours.

The president indicated that it is postponed until the entry of the new coins and banknotes. The removal of the ticket of 100 coincided with the announcement of the Central Bank of Venezuela that from the 15 of December it would launch the denomination of 500 bolivars, and that progressively would be incorporating the banknotes of 1,000, 2,000, 5,000, 10,000 and 20,000.

Also, the ruler extended until January 2, the closure of the borders with Colombia and Brazil, which began at the beginning of the week.

The public and private banks conducted between Tuesday and Thursday a redemption mass of the banknotes 100 bolivares in the midst of numerous customer complaints about the shortage of cash, a situation that has been presented in Venezuela several weeks ago.

Analysts and opponents questioned the decision of a Mature and cautioned that the elimination of the bill of the largest denomination, which represents almost half of the paper currency in circulation, which would generate a collapse in the country.

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