PhotoCARACAS, Venezuela — Venezuela’s government began to issue new bank notes on Monday to replace the 100-bolívar bill, made virtually worthless by hyperinflation. There were outbreaks of looting, and some people even burned the 100-bolívar notes, believing they were nothing more than paper after Mr. Maduro’s announcement. Advertisement Continue reading the main storyMr. Maduro was forced to relent and allowed the 100-bolívar notes to remain in place. Finally, on Sunday, Mr. Maduro said the new bank notes would be phased in beginning on Monday. Although Mr. Maduro announced the measure in December, the new notes were dated Aug. 18, 2016.

Source: New York Times January 17, 2017 01:49 UTC