The Bolivars being introduced into circulation over a period exceed the number of Bolivars needed to settle debts and taxes over a period, and the excess of Bolivars in the system resulted in people being able to obtain Bolivars they needed to settle these obligations by doing less work or supplying fewer goods.

Competently run central banks, unlike incompetently run central banks or crypto mining algorithms, intervene to reduce the money in circulation when its purchasing power falls faster than they're comfortable with.