Venezuela is removing five zeroes from its currency in a bid to tackle skyrocketing inflation which the International Monetary Fund predicts will hit a staggering 1M% this year. The new 'sovereign bolivar' will be pegged to Venezuela's oil-backed cryptocurrency, the petro. President Nicolas Maduro has also announced a 3,000% hike in the minimum wage.
As Juan Carlos Lamas explains from Caracas, Venezuelans struggling to make ends meet are now bartering food for services.