“Now those who want to buy just a sweet or even a whole cow from the barbecue, will be able to do so,” the cattle breeder said.
Venezuela has the highest rate of inflation in the world. In the year to the end of February 2018, prices in Venezuela rose by more than 6,000%, according to an estimate by the opposition-dominated National Assembly.
Venezuelans have been set limits to the cash they pay out per person per day to 10,000 bolivares, which equates to less than five US cents on the black market.
On the black market, the 2bn bolivares worth of Elorzas sold by the local authorities are equivalent to just under $9,000.
Residents and visitors wanting to buy Elorzas can do so via bank transfer or debit card payment at the mayor’s office, circumventing the need to carry wads of bolivares.
