Venezuelan President Nicolas Maduro suspended on Saturday the elimination of the country's largest denomination bill, which had sparked cash shortages and nationwide unrest, saying the measure would be postponed until early January, Reuters reported. The surprise pulling of the 100 bolivar note from circulation this week - before new larger bills were available - led to vast lines at banks, looting at scores of shops, anti-government protests and at least one death. Maduro, speaking from the presidential palace, blamed a "sabotage" campaign by enemies abroad for the delayed arrival of three planes carrying the new 500, 2,000 and 20,000 bolivar notes. The 100 bolivar bills, officially out of use since Thursday and worth just 4 U.S. cents at the black market currency rate, can now be used until Jan. 2, Maduro said. Many Venezuelans had found themselves without the means to pay for food, gasoline or Christmas preparations in a country already reeling from a profound economic crisis. About 40 percent of Venezuelans do not have bank accounts, and so cannot use electronic transactions as an alternative to cash. Adding to the chaos, Venezuela has the world's highest rate of inflation, meaning large bags of cash must be humped around to pay for basic items. In the southern mining town of El Callao, a 14-year-old boy was shot dead during looting on Friday, authorities confirmed. An opposition legislator reported three fatalities.
