Venezuela Giving Pregnant Women $3.83 a Month

President Maduro announces (very) small stipend
By Newser Editors,  Newser Staff
Posted Jan 16, 2018 5:32 PM CST
Venezuela Giving Pregnant Women $3.83 a Month
Venezuela's President Nicolas Maduro.   (AP Photo/Desmond Boylan)

The good news for pregnant women in cash- and food-strapped Venezuela is that President Nicolas Maduro just announced the government would be giving them 700,000 bolivars a month. The bad news, per CNN: Thanks to hyperinflation, that amounts to just $3.83 in the real world. Maduro did not explain why the government is rolling out the stipends, which he announced in his annual address to the country, but he said they'll go up to the equivalent of about $5 a month once the baby is born. (CNN is basing that not on the government's official exchange rate, considered bogus, but on an unofficial exchange rate followed by millions.) Venezuela has been in dire straits thanks to a drop in oil prices that began in 2014, notes Fortune. In fact, children are starving. (Read more Venezuela stories.)

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