Venezuelans queue up outside ATMs amid cash crunch

Updated:8 months, 4 weeks ago IST

Venezuela, Dec 27 (ANI): As the cash crunch continues to prevail in Venezuela, the citizens were forced to line up in long queues outside banks and ATMs around Caracas just to be able to access cash. As the country's economy and oil revenue continues to decline and inflation continues to rise, these scenes are becoming commonplace. Strict exchange controls in Venezuela over the last 15 years have made access to dollars very limited. Many merchants started charging in dollars or their black market equivalent - making it more difficult for Venezuelans to access basic goods and services. The increase in these prices made for scanty Christmas celebrations as there were shortages of pine trees, toys, meat, chicken and cornmeal. As the country's economy and oil revenue continue to decline and inflation continues to rise, such scenes are becoming commonplace.

Related Video

iocl