Viernes Rojo information

Viernes Rojo (Red Friday) in Venezuela refers to Friday, 17 August 2018, when President Nicolás Maduro announced a series of economic reforms known as "Program of Recovery, Growth and Economic Prosperity", in response to increasing hyperinflation. This event is also known as Paquetazo Rojo (Red Package)^[1] or Madurazo^[2] by some media outlets. These reforms include the introduction of the a new currency with five fewer zeros, increase the minimum wage based on the Petro and increase VAT to 16%. According to President Maduro, these reforms have the goal of recovering the population's salary in two years through the Economic Recovery of Growth and Prosperity program, to eliminate the fiscal deficit and to eliminate the use of paper money.^[1]^[3]

Economists and experts argued that the economic measures lacked coherence and would contribute with increasing hyperinflation, indicating that they would have a much greater impact than the Black Friday of 1983 under President Luis Herrera Campins, El Gran Viraje of President Carlos Andrés Pérez in 1989 or Agenda Venezuela of President Rafael Caldera in 1996.^[4]

^ ^a ^b Cite error: The named reference ABCes was invoked but never defined (see the help page).
^ Vinofradoff, Ludmila (18 August 2018). ""Maduronazo", the package of economic measures that causes confusion in Venezuela". Clarin (in Spanish). Retrieved 11 June 2019.
^ "Maduro announces new measures on a black Friday for Venezuela". EVTV (in Spanish). 18 August 2018. Retrieved 11 June 2019.
^ "Economists:" Paquetazo "and" Red Friday "of Maduro will create more chaos and hyperinflation". El Pitazo (in Spanish). 17 August 2018. Retrieved 10 June 2019.

[ABCes-1] Cite error: The named reference ABCes was invoked but never defined (see the help page).

[2] Vinofradoff, Ludmila (18 August 2018). ""Maduronazo", the package of economic measures that causes confusion in Venezuela". Clarin (in Spanish). Retrieved 11 June 2019.

[3] "Maduro announces new measures on a black Friday for Venezuela". EVTV (in Spanish). 18 August 2018. Retrieved 11 June 2019.

[EP2018-4] "Economists:" Paquetazo "and" Red Friday "of Maduro will create more chaos and hyperinflation". El Pitazo (in Spanish). 17 August 2018. Retrieved 10 June 2019.

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