IMF: Inflation in Venezuela to Hit 1.4 Million Percent Before End of Year

Venezuelan bolivars bank notes have become practically worthless due to inflation

Inflation in the crisis-stricken country of Venezuela is on track to hit 1.4 million percent by the end of 2018, according to the latest report from the International Monetary Fund.
The report, entitled “Outlook on the World Economy,” predicts that inflation will reach 1.4 million by December 31, 400,000 percent higher than what they forecast in June this year and over a hundred times faster than the estimate of 13,000 percent in January.

Looking forward, the organization also believes that consumer prices will “increase by 10 million percent over the course of 2019,” explaining that “years of misguided policies coupled with a decline in production in the country’s vital oil industry to seventy-year lows have crashed the economy.”

In 2018, the Venezuelan economy shrunk by a staggering 18 percent, indicating a third consecutive year of double-digit decline that has led to the worst economic and humanitarian crisis in the entire region. The IMF is predicting a 20-percent decline in 2019, meaning the country will have lost half of GDP since 2015.

Widespread poverty and mass shortages of food, medicine, and other basic resources have caused a worsening migration crisis as Venezuelans seek refuge in neighboring countries. The mass flow of people has also begun to stoke tensions in local communities and increased the financial pressure on foreign governments.

Nicolás Maduro’s socialist dictatorship has responded to the economic catastrophe with a number of creative but ultimately ineffective solutions that has included seeking additional loans from allies such as Turkey, Russia, and China and creating its own national cryptocurrency known as the “Petro,” supposedly backed by the nation’s extensive oil and gold reserves.

Maduro’s solution to the hyperinflation crisis has involved repeatedly raising the country’s national minimum wage and taking five zeroes off of the Bolivar currency. Yet despite dozens of wage increases, many people’s monthly salary still equates to just a couple of dollars a month, as inflation continues to spiral out of control.

The worthlessness of the Bolivar and the dire state of the Venezuelan economy has raised speculation that the country will ultimately revert to the U.S. dollar in any post-Maduro regime, following the example of Ecuador who substituted their own currency back in 2000. A growing number of Venezuelan merchants are now only accepting payments in dollars to avoid constant price hikes and the inevitable devaluation of their profits.

www.breitbart.com/latin-america/2018/12/21/imf-inflation-venezuela-...

Views: 249

Reply to This

Replies to This Discussion

US companies have been leaving Venezuela. Soros has US voting machines manufactured in Venezuela. The Comb Over had talks of regime change. Putin promised over 6 billion in aid for this country of 32 million people with gold and oil resources, but has delivered nuclear bombs. The elite still live in comfort as the rest of the country lives way below poverty. What else is going to happen. Are we seeing the unfinished business of the US Deep State and discontinued efforts focusing on the Comb Over?

JUST ANOTHER COMMUNIST SUCCESS STORY OF ANOTHER COUNTRY THEY DESTROYED!!!!!

RSS

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

Doc Vega commented on Doc Vega's blog post Was a Planned Civil War Averted?
"cheeki kea, you are spot on. The old guard is about to collapse! "
17 hours ago
Doc Vega commented on Doc Vega's blog post Alligator Creek and a Japanese Massacre
"cheeki kea, the Japanese thought they could expand their empire and exact enough damage on the US…"
17 hours ago
Michelle Reichert favorited Burbia's video
yesterday
cheeki kea posted a video

NEW DOCUMENTARY - Dissent Into Madness

TRANSCRIPT AND SOURCES: https://www.corbettreport.com/dissent-into-madness/What if the delusions of the dissidents are in fact real? What if their paranoid f...
yesterday
cheeki kea commented on Doc Vega's blog post Alligator Creek and a Japanese Massacre
"Japan served themselves up no favours by inching out into the South Pacific as they soon found out.…"
yesterday
cheeki kea commented on Doc Vega's blog post Was a Planned Civil War Averted?
"Their plans did not work out because we are the news now, and the old news is the enemy. "
yesterday
Doc Vega posted a blog post

Alligator Creek and a Japanese Massacre

The year is 1942 just a few months after the Pearl Harbor disaster. Despite losses suffered by the…See More
Tuesday
Doc Vega commented on Burbia's video
Thumbnail

CHARLIE KIRK WAS CNP! JOSH REEVES 9-11-25

"With all due respect this guy comes off as a drunken asshole and he didn't even  know who…"
Monday
Doc Vega posted a blog post

Was a Planned Civil War Averted?

We are living in sadly historic times where good and evil are in battle all the time. Not that this…See More
Sunday
Sandy posted a photo
Sunday
Less Prone posted a video

President Trump addresses U.N. General Assembly - FULL SPEECH

President Donald Trump speaks at the United Nations General Assembly in New York City.Full video here: https://www.c-span.org/event/white-house-event/preside...
Sunday
Burbia posted a video

2 MIN AGO: Western Provinces MAJOR New WEXIT Announcement - Canada EXPLODES!

In a stunning turn of events, Western provinces just made a major new WEXIT announcement — and it’s shaking the foundations of Canadian unity. Is Western sep...
Saturday
Doc Vega posted a blog post

How You Provoke a Civil War

In the world of counter intelligence which is simply one aspect of many pertaining to asymmetrical…See More
Sep 26
Burbia commented on Burbia's video
Thumbnail

CHARLIE KIRK WAS CNP! JOSH REEVES 9-11-25

"I don't follow as much with Josh Reeves than I use to. He seems to be a documentary producing…"
Sep 25
Burbia posted a video

CHARLIE KIRK WAS CNP! JOSH REEVES 9-11-25

DONATE-paypal-dayglow76@yahoo.comCashapp-reevesradioVenmo-Josh-Reeves-61FILMS AND AUDIOBOOKS DOWNLOAD STORE-https://store.payloadz.com/results/242828-josh-re...
Sep 25
Doc Vega posted blog posts
Sep 25
tjdavis posted a video

CHARLIE KIRK VIDEO THAT KEEPS GETTING REMOVED OFF OF SEVERAL PLATFORMS

I had not planned to share this publicly, but I believe Advar, who spoke with Charlie Kirk while I was very ill, would have wanted me to. After my interview ...
Sep 25
pohonemas33 team commented on Chris of the family Masters's photo
Thumbnail

Gold-Coast-Message

"untuk bermain slot, kamu cukup kunjungi situs kacang99 pasti langsung gacor"
Sep 24
Doc Vega posted blog posts
Sep 24
Burbia posted a blog post

Former President Trump?

When was this article written? It is attributed to Victor Davis Hanson. He is a Fellow at Hoover…See More
Sep 22

© 2025   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted