Venezuela has pulled the TV show Who Wants to Be a Millionaire? after devaluing its currency, which is now worth so little, the top prize was meaningless.

Venezuela's economy is in free-fall and the Government has had to take drastic steps to devalue its currency the bolivar. Even Venezuelan millionaires are worth about NZ$6.

Supermarket shelves have been stripped bare as desperate Venezuelans stockpile food ahead of a devaluation of the country's currency, ITV News reports.

As five 0's were knocked off bolivar banknotes, businesses have stayed shut and queues have formed at ATM machines.

Venezuelan President Nicolás Maduro announced this week yet another recovery programme for the South American country. He claims Venezuela is caught in the midst of an economic war waged by its enemies.

Venezuela sits on top of the world's greatest proven oil reserves, but its citizens need fistfuls of notes just to buy a few eggs.

Inflation is predicted to hit one million percent this year in Venezuela.

Before the Government's devaluation of the currency, a kilo of potatoes would set back locals 283,000 bolivars. Even more shocking, purchasing a single chicken cost 15 million bolivars.

The TV show Who Wants to Be a Millionaire? has been taken off-air because even with the top prize raise to two million bolivar, it was meaningless.

There has been growing unrest in Venezuela since 2013 with allegations of corruption in Government and economic mismanagement.

Last month, there was an assassination attempt on the President's life. He spotted a drone carrying explosives during a parade and was shielded by security.

There is now a mass exodus from Venezuela, but the economic migrants are not wanted. On the border with Brazil there are burning barricades, leaving them in a terrible dilemma.

Venezuelans face starvation at home or rejection abroad.

Newshub.