Venezuela warns against speculators

Warning comes after president devalues national currency, sparking rush on goods.



    Venezuelan soldiers have temporarily shut down dozens of retail stores across the country in an effort to prevent price hikes.

    The closures - on government orders  - come days after Hugo Chavez, the Venezuelan president, devalued the national currency from 2.15 to the dollar to 2.60 for basic goods.

    The move means Venezuelans will have to spend 20 per cent more on essential items like food and that has prompted a rush on goods that residents fear could become more expensive.

    But as Al Jazeera's Roger Wilkison reports, opposition leaders have denounced the devaluation as a thinly veiled attempt to generate more government spending ahead of congressional elections in September.

    SOURCE: Al Jazeera


    YOU MIGHT ALSO LIKE

    Meet the deported nurse aiding asylum seekers at US-Mexico border

    Meet the deported nurse helping refugees at the border

    Francisco 'Panchito' Olachea drives a beat-up ambulance around Nogales, taking care of those trying to get to the US.

    The rise of Pakistan's 'burger' generation

    The rise of Pakistan's 'burger' generation

    How a homegrown burger joint pioneered a food revolution and decades later gave a young, politicised class its identity.

    'We will cut your throats': The anatomy of Greece's lynch mobs

    The brutality of Greece's racist lynch mobs

    With anti-migrant violence hitting a fever pitch, victims ask why Greek authorities have carried out so few arrests.