Eleven Latin American countries say that they have agreed to allow Venezuelans leaving their homeland to enter their countries even if their travel documents have expired.
Brazil says it is sending its army to the Venezuelan border to "guarantee law and order" amid an influx of migrants fleeing the crisis-hit country.
Venezuelan President Nicolas Maduro carried out one of the greatest currency devaluations in history over the weekend -- a 95 percent plunge that will test the capacity of an already beleaguered population to stomach even more pain.
Venezuelan President Nicolás Maduro has announced that the national oil-backed cryptocurrency, the Petro, will be used as a unit of account within the country
"Gasoline must be sold at an international price to stop smuggling to Colombia and the Caribbean," Nicolás Maduro said in a televised address.
The Supreme Court overturned an earlier order to shut the frontier until Brazil could put in place the right conditions to receive the huge influx of people.
The International Monetary Fund is warning that Venezuela's inflation could reach one million percent by the end of the year.
While the Lima Group did not announce immediate sanctions, it said it would lobby international lenders not to offer loans to Venezuela that did not have prior approval from the opposition-held National Assembly.