Today: Tuesday, 16 August 2022 year

Venezuela crisis: Caracas shops mobbed as Maduro forces price cuts

Venezuela crisis: Caracas shops mobbed as Maduro forces price cuts

Venezuelan government ordered shops to slash prices on Saturday, creating chaos. The Venezuelans gathered outside Caracas supermarkets at the chance to buy cheaper food as the country’s worsening economy causes severe shortages.

The shelves of Venezuelan shops are totally empty, that is a result of the most recent presidential order, on Saturday, the government made a populist decision, which caused a chaos in the big cities where supermarkets are functioning.  Nicolas Maduro’s order forced 214 supermarkets to cut prices back to last month’s levels – many prices change daily due to the world’s fastest inflation rate.

News of the discounts spread like wildfire, leading hundreds to mass in front of stores before daybreak. When one major supermarket in wealthier eastern Caracas did not open for hours, people began pounding on the storefront.

“We’re hungry! We want food!”

screamed the crowd, which included babies, pensioners and children with disabilities. The people confirmed that is an ill policy, but there is the only way to buy some food right here, right now. The Venezuelans are standing in line under the sizzling sun to supply their families with some food.

Armed National Guard soldiers arrive at the store and ordered people into clear lines, warning that they would not be allowed in otherwise. They eventually let the crowd through in small groups just before midday, but people quickly emerged disappointed as only crackers and washing liquid was discounted.

Meanwhile, the government is going to issue the cryptocurrency Petro, which value would be the equivalent of a barrel of oil, US$59, said President Maduro. One hundred million units of cryptocurrency will be issued by the Venezuelan government in a continued attempt to sidestep U.S. economic sanctions, the national leader announced on Friday.