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Venezuela

Venezuela, Any Tricks Left For Halting Hyperinflation?

Hyperinflation comes from ignoring some basic economic rules. That is unlikely to change any time soon under the Maduro government.

Inflation has resulted in food shortages in Venezuela.
Inflation has resulted in food shortages in Venezuela.
Julio César Alonso

There are no official figures for inflation in Venezuela, but the International Monetary Fund (IMF) expects the rate to reach around 1,000,000% by the end of 2018. Whether or not that is precise to the decimal point, clearly Venezuela is suffering from hyperinflation.

Inflation is the phenomenon of rising prices for all goods and services, which is normal. In Colombia for example, the inflation rate for 2017 was 4.09%. But hyperinflation is when price rises exceed a minimum of 50% in a month and it lasts for a period of at least one year.

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Mariateresa Fichele

Fifteen years ago, Francesco kept busy by scamming people. He was a regular visitor to the beaches of Terracina, south of Rome, where he was caught several times selling counterfeit Ray-Ban sunglasses. Then came the drugs, which fed a serious substance-induced psychosis and eventually he tested positive for HIV.

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