300 arrested in Venezuela after currency bill elimination sparks protests, looting

Security forces in Venezuela made a huge haul of arrests after more than 300 people were nabbed and one reported dead following massive protests and looting which occurred after the elimination of the country’s largest currency bill.

President Nicolas Maduro pulled the 100 bolivar note out of circulation last week before injecting new bills into circulation, thereby creating a national cash shortage which sparked anger and protests ahead of the Christmas holidays.

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The attendant unrest due to cash shortage and uncertainty saw desperate Venezuelan’s looting several shops for two days which was coupled by massive protests.

Normalcy was however restored after Maduro on Saturday postponed the measure until January 2nd, though there were still reports of more looting in southern Ciudad Bolivar.

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