CARACAS, VENEZUELA — Uncertainty reigned in Venezuela Saturday after President Nicolas Maduro unveiled a major economic reform plan aimed at halting the spiraling hyperinflation that has thrown the oil-rich, cash-poor South American country into chaos.
People check prices of products in a street market in Caracas, Venezuela, Aug. 18, 2018. President Nicolas Maduro has unveiled a major economic reform plan that takes effect Monday.
Ahead of a major currency overhaul Monday, August 20, when Caracas will start issuing new banknotes after slashing five zeroes off the crippled bolivar, Maduro detailed other measures he hopes will pull Venezuela out of crisis.
Those measures include a massive minimum wage hike, the fifth so far this year.
But analysts say the radical overhaul could only serve to make matters worse.
“There will be