Steve Hanke

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The new five and ten Bolivar Soberano (Sovereign Bolivar) bills. As it tries to curb hyperinflation - which, by some measurements, is the worst in Latin American history - the government is also slashing fuel subsidies and raising the minimum wage by 3,000 per cent.

Venezuela resorted to desperate measures to arrest an economic collapse on Monday, lopping five zeros off the bolívar, devaluing it by 95 per cent and(...)