Venezuelan Defense Minister Vladimir Padrino said his country’s border with Colombia will be open on Tuesday to allow for pedestrian crossing.
RELATED:
Why Are Venezuela 100-Bolivar Bills Accumulating in Colombia?
“After talks between Presidents Nicolas Maduro and Juan Manuel Santos, it was agreed that the border should be gradually reopened,” Padrino wrote on Twitter.
The top military official added he has already started talks with his Colombian counterpart Luis Carlos Villegas in order to launch a coordinated operation in order to tackle what the Venezuelan government has deemed “mafias.”
The border has for years been a hotbed for smuggling everything from price-controlled toothpaste and pasta to illegal drugs and weapons. The Venezuelan government says smugglers take advantage of price controls and subsidized exchange rates, taking goods out of Venezuela to sell for higher profits elsewhere, contributing to shortages in the country.
Venezuelans also cross into Colombia to purchase of food, medicine and other supplies affected by shortages in the country.
Recently, currency smuggling and hoarding has become a major concern in the border region. President Nicolas Maduro announced last week that he was closing his country's border with Colombia to combat what he slammed as "financial mafias" accused of moving Venezuelan money into Colombia.
RELATED:
New Currency Arrives in Venezuela to Combat Financial 'Mafias'
Maduro recuperated 4 billion bolivares from these criminal groups who have been accumulating 100 bolivar bills as part of a campaignof economic war against the country. In the face of inflation, the 100 bolivar bill — the largest denomination bill — has been subject to speculation and hoarding.
The Venezuelan president decided to pull the 100 bolivar bill from circulation before new larger bills were available. The move led to huge lines at banks, looting at scores of shops and anti-government protests. It also helped to bring the bills back into circulation.
The 100 bolivar bills can now be used until Jan. 2, Maduro said.
Maduro has blamed a "sabotage" campaign by enemies abroad for the delayed arrival of three planes carrying the new 500, 2,000 and 20,000 bolivar bills that will be introduced in the country to help counteract practical challenges related to inflation.