The World Follows Modi's Footsteps! Look At These Countries Who Adopted Demonetization After India To Fight Corruption

Blog By suhas  |  24-12-16

These countries switch to demonetization after India to fight black money...

#3 Demonetization

#3 Demonetization

Demonetization is no joke or government's attempt to rob it's poor citizens. It is a strategic step to solve major national economic problems and strengthen the finance of our country.

This is one of the major reasons why even other countries have started to adopt the technique introduced by our PM Modi in our country. Excited to know which countries are these?

Keep reading ahead to know that.


#2 Venezuela

#2 Venezuela

So after India, Venezuela was the first one to follow Modi's footsteps. They pulled out 100-Bolivar bills (The largest bank note) to fight currency hoarding.

Currently the situation in the country is so bad that the inflation rate in the country is over 700%.

There is another powerful country to demonetize their currency soon.

Keep reading ahead to know which country I am talking about.


#1 Australia

#1 Australia

After a lot of discussion, even Australian government has plans of demonetizing the highest valued currency i.e. $100 notes. It is believed that in Australia, the overall GDP constitutes of 1.5 percent black economy.

Australian Revenue and Financial Services Minister, Kelly O’Dwyer, said, “The whole point of this crackdown on the black economy is to make sure we close down any potential loopholes.”








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