Venezuela’s Economic Crisis

The economic crisis in Venezuela has become so dire that some families are now giving away their children.

The Venezuelan bolivar’s value has become so low, that the country has had to come up with an alternative in order to keep the country from getting into even deeper economic problems.

The largest piece of currency in Venezuela is the 100 bolivar note, which will now be replaced with a coin. New bills will be created with values from 500-20,000 bolivars. These have not yet been put into circulation.

Because of the economic situation, poor families have had to give away their children in hopes that they’ll have a better future and not starve.

In fact, Venezuela is also suffering from a food shortage, in which the government has at one point forced every adult to work at farms for a certain amount of days to help stop the food shortage problem.

The country even blocked its borders for 72 hours so Venezuelans couldn’t escape to and smuggle bolivars into Colombia.

Venezuela has been plagued with corruption and smuggling, which has hurt its economy drastically.