MOSCOW (Sputnik) — Venezuela's President Nicolas Maduro on Monday called the government's decision to withdraw the country's largest 100-bolivar note a "monetary upheaval."
"We have conducted a monetary, political, social and economic upheaval, which we suppress now. The fact that we have suppressed, neutralized and reversed it is a defeat for them [Venezuelan mafia] and victory for our nation," Maduro was quoted as saying by the AVN news agency.
On December 12, Venezuelan authorities announced the withdrawal of the 100-bolivar note in a bid to hit the currency 'black market', where the banknote was exchanged for only $2,5 cents.
On Saturday, the president postponed the withdrawal until early January, since the decision triggered protests in several states as the supply of cash ran out.
