Venezuela’s President Nicolas Maduro ordered a “re-denomination” of the ailing bolivar currency on Thursday, by knocking three zeroes off amid hyperinflation and a crippling economic crisis.
The measure to divide the so-called bolivar fuerte - or “strong bolivar” - currency by 1,000 would take effect from June 4, the socialist leader said.
The move illustrates the collapse of the bolivar, which has fallen 99.99 percent against the U.S. dollar on the black market since Maduro came to power in April 2013.
The Russian intelligence-gathering vessel Viktor Leonov returned to Trinidad for a second time this year and was docked near the Hyatt yesterday. The vessel is expected to depart today.
When the Sunday Guardian visited the dock before noon, about 15 of the ship's crew in brown uniforms were at the stern of the ship on their down time, smoking and using their cellphones. An officer in camouflaged fatigues was talking with one of the ship's officers while another interacted with the crew.
The social, economic and political upheavals, hyperinflation, shortages of food, medicine and other supplies and US sanctions have forced many Venezuelans to flee their country and look for work in neighbouring countries, including T&T, to earn money and supplies to send back home to their families.
According to the UNHCR (United Nations High Commissioner for Refugees) report dated August 2017, there are an estimated 40,000 Venezuelans in T&T.
Prime Minister, Dr Keith Rowley has met with a high-level delegation from the Bolivarian Republic of Venezuela as negotiations regarding the supply of natural gas to Trinidad and Tobago continues to progress, a statement by the Office of the Prime Minister says.
Oil has washed up on the shores of Venezuela's tourist island, Margarita and there are suggestions that it might be from the April 23rd Petrotrin oil spill.
The latest development comes as 61 Venezuelan NGOs have demanded compensation from the Government of Trinidad and Tobago for the oil spill.
Authorities have not yet been officially tested the oil found in Margarita, but reports coming from Venezuela seem to suggest that it is the same type of oil found on Venezuela's Guiria coastline
Thousands of protesters were met with plumes of tear gas in Venezuela's capital Wednesday, just a short distance from where President Nicolas Maduro delivered a decree kicking off a process to rewrite the polarized nation's constitution.
The death toll now stands at 35 since the unrests began.
Surrounded by top-ranking socialist officials, a riled-up Maduro told supporters dressed in red outside the National Electoral Council that the constitutional assembly was needed to instil peace against a violent opposition.
Petrotrin says clean-up, recovery and remediation activities continue, following the oil spill which occurred on Sunday, 2017 April 23 at the Pointe-a-Pierre Refinery.
A statement by the company says ongoing monitoring remains in place.
"The Company takes this opportunity to remind our stakeholders that our Oiled Wildlife Management Plan remains in effect. As we continue our search and rescue efforts, interested persons can continue to contact our 24- hour emergency response hotline - 658-SAFE (7233)," the Petrotrin statement said.