The old name /was/ Mesopotamia but nowadays it is somewhere near Iraq and Turkey, I think.
By devaluing the Bolivar, the president of Venezuela has artificially decreased the value of the national currency.
What this does it make it more expensive to buy US dollars. In the last 2-3 years, there has been a flight of billion of US dollars out of Venezuela due to the economic disaster looming in the country.
By making it more expensive to buy US Dollars, the President of Venezuela is hoping to decrease the flight of money from the country and protect local reserves.
To what extent this actually works, we will have to see. In many developed countries or countries with a healthy economy, such a strategy might work. However, in the case of Venezuela, the economy is so bad, that even the devaluation of the Bolivar might not help solve much.
It's the first one and last one but if you had to choose, choose the last one
Because his voyages began a period marked by European empire.
5 to learn how the past connects to the present and affects the future
