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Venezuelan President Raises Minimum Wage

Venezuela's president has ordered a 30 percent increase in the country's minimum wage. Nicolas Maduro's announcement comes as the South American country is experiencing rampant inflation and economic stagnation. The change officially pushes the minimum wage up to just over $1,500 a month, based on the official exchange rate. However, the actual monthly wage is only a tiny fraction of that based on the current black market rate, which largely sets prices of goods for...

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