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Venezuela shuts border to fight smuggling

Tuesday, December 13, 2016


Venezuelan President Nicolas Maduro has ordered the closure of the border with Colombia for 72 hours in a crackdown on currency smuggling by what he says are "mafias" trying to destabilize the socialist-run economy.

Maduro announced the decision Monday following a meeting with top economic aides. The move comes as he is trying to curb Venezuela's galloping inflation and roll out a new range of bank notes after deciding to pull from circulation a 100-bolivar bill.

Source: Associated Press