Venezuela extends border closing with Colombia, Brazil for 72 hours

Venezuela extended the closure of its borders with Colombia and Brazil for another 72 hours as part of a drive to fight what it calls criminals hoarding 100-bolivar banknotes.

People make a line outside a bank in Caracas, Venezuela, 15 December 2016. Thousands of Venezuelans head to the banks to get rid of their 100 Bolivares bills. Source: EFE

The closure in place since Monday will now last until Sunday, President Nicolas Maduro said.

The government is withdrawing the 100-bolivar note on the grounds that "mafias" are hoarding it abroad in what Maduro calls a US-backed plot to destabilize Venezuela.