Crates holding 50,000 new banknotes have arrived in Venezuela amid a currency crisis and growing social unrest. A delay last week, which President Nicolas Maduro blamed on the US Treasury, had sparked protests.
Image: picture-alliance/EFE/dpa/H. Matheus
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An airplane filled with new currency arrived in Venezuela on Sunday after the government briefly pulled the largest-denomination 100-bolivar banknote out of circulation earlier this week, a move that prompted protests and looting across the South American country.
"There are 272 crates of 50,000 500-bolivar bills," said Jose Khan of Venezuela's Central Bank, who was at the airport to welcome the aircraft. Sweden made the new 500-bolivar denomination, according to the bank.
Venezuelan President Nicolas Maduro blamed "US Treasury Department sabotage" for delaying the new denomination from arriving when the 100-bolivar, worth approximately $0.03 (0.03 euros), was pulled from circulation on Friday.
"The 500-bolivar bills should have arrived on Thursday, but they arrived this Sunday. They could not stop us, they delayed them for four days," Maduro said.
"Bills of 1,000, 2,000, 20,000 and more bills of 500 will arrive. We're going to accumulate them and when we come out with them, we're going to be complete with our monetary policy," he added.
The move to eliminate the 100-bolivar note prompted social unrest across the South American country, which has the world's highest inflation rate.
According to Bolivar Governor Francisco Rangel Gomez, at least one person was killed and 262 others detained as 3,200 soldiers were deployed to "restore order."
World's highest inflation rate
Opposition lawmakers have lashed out at Maduro's economic policy, which has seen the oil-rich economy descend into a recession after the collapse of petrol prices.
"We have a government utterly stupid and destructive in economic managements, whose only goal is to keep power at whatever price," opposition leader Julio Borges told the Reuters news agency.
The government has closed its borders with Brazil and Colombia, citing criminal organizations who allegedly hoard bolivars.
However, the opposition has criticized the move, saying it is unlikely gangs are holding their monetary resources in the currency of a country with the world's highest inflation rate.
As a result of the recession, Venezuela has witnessed acute shortages of basic amenities, including food products and medical supplies.
Scarcity, riots and drought: Venezuela is in trouble
Lufthansa has canceled service to Caracas as Venezuela's economic turmoil worsens. The country is one of the world's largest oil producers, but plunging prices have brought inflation to 180 percent in the past year.
Image: picture-alliance/dpa/EFE/M. Gutiérrez
Hyperinflation bites into economy
Hyperinflation has made doing business in Venezuela untenable for many domestic and foreign firms. With the currency dropping, the government has made it difficult to convert bolivars into US dollars.
Image: picture-alliance/dpa/G. Ismar
Food shortages
Food shortages have become pervasive, spurred on by hyperinflation. Empty store shelves have become all too common across Venezuela.
Image: Getty Images/AFP/J. Barreto
Queuing up to buy food
Food shortages mean that people have to wait in line to buy essential food items at select locations. Here people line up outside a supermarket in the poor neighborhood of Lidice, in Caracas.
Image: Getty Images/AFP/R. Schemidt
Gathering signatures
Opposition leaders launched a petition drive to collect signatures for a recall referendum. They needed 200,000 signatures, or 1 percent of the electorate, but they got 1.8 million voters to sign.
Image: picture-alliance/dpa/M. Gutierrez
Green light for petition
Opposition leader Henrique Capriles shows journalists that the National Election Council has given permission for the referendum to go ahead. But President Nicolas Maduro's government is trying to delay the vote.
Image: picture-alliance/dpa/M. Gutierrez
Pushing for referendum
Protesters have taken to the streets, demanding that the referendum go forward.
Image: Reuters/M. Bello
Students protest
Students have also taken to the streets to demonstrate. They are protesting both the overall economic stagnation and also the government's efforts to delay the referendum.
Image: Getty Images/AFP/R. Schemidt
Severe drought
A devastating drought has exacerbated Venezuela's problems. What was once a vast reservoir, held back by a hydroelectric dam, is now little more than a series of mud puddles.
Image: Reuters/C.G. Rawlins
Drought wreaks havoc
The country depends on the Guri Dam - one of the world's largest - for a significant portion of its electricity. While the reservoir is turning to desert, citizens endure daily black outs, and government offices open just two days a week to save electricity.
Image: Reuters/C.G. Rawlins
Health care suffers
Oliver Sanchez, 8, holds a sign that reads "I want to heal, peace, health" during a protest against the shortage of medicines in Caracas. Oliver has Non-Hodgkin lymphoma, but the medicine he needs is no longer available.
Image: picture-alliance/AP Photo/A. Cubillos
Maduro under fire
Venezuela's economic dip is largely the result of oil prices that have plunged more than 50 percent in the past two years. But a severe drought is crimping electricity supplies, and focusing people's ire on Maduro.
