Surviving hyperinflation in Venezuela
FRANCE 24 English News-Politics 2018-08-20 - 08:44:57
"Subscribe to France 24 now: http://f24.my/YouTubeEN FRANCE 24 live news stream: all the latest news 24/7 http://f24.my/YTliveEN Imagine living in a country where prices double every few weeks and a monthly salary of three million Bolívares isn’t enough to buy meat for one family meal. That’s the situation in Venezuela where the government is knocking five zeroes off the refurbished Bolívar in a desperate attempt to control hyperinflation. The Bolívar Soberano (Sovereign Bolívar), is anchored to the cryptocurrency, the Petro, which was launched earlier this year. In May 2018, Nicolas Maduro was re-elected president in a vote deemed by the EU and the US to be unfair. He promised to focus on boosting the economy, but Venezuelans are yet to see their lives improve. Families who only a few years ago went on holiday to Miami can no longer afford decent food and basic medication. France 24 reporter Claire Paccalin has been in Caracas finding out how Venezuelans are trying to adapt and survive from day to day. Visit our website: http://www.france24.com Like us on Facebook: https://www.facebook.com/FRANCE24.English Follow us on Twitter: https://twitter.com/France24_en"
that began in Venezuela during the presidency of Hugo Chávez, has continued into the presidency of Nicolás Maduro. It is marked by hyperinflation, climbingto a crisis in Bolivarian Venezuela, resulting in hyperinflation, an economic depression, shortages of basic goods and drastic increases in unemploymentIn economics, hyperinflation is very high and typically accelerating inflation. It quickly erodes the real value of the local currency, as the prices ofsurvived for only 20 years and experienced serious hyperinflation. It was the most serious case of hyperinflation ever recorded until the Crisis in Venezuelathe rate increased to 80,000% at the end of 2018 with Venezuela spiraling into hyperinflation while the poverty rate was nearly 90 percent of the populationthe rate increased to 80,000% at the end of 2018 with Venezuela spiraling into hyperinflation while the poverty rate was nearly 90 percent of the populationbreakdown in normal commerce caused by hyperinflation (such as in Weimar Germany in the 1920s), or even an economically caused sharp rise in the deathenduring crisis in Venezuela has resulted in hyperinflation, an economic depression, shortages of basic goods and drastic increases in unemployment, povertybeen affected by hyperinflation in Venezuela. 18 July – Protests organized by Venezuelan unions demanding adequate pay amid hyperinflation intensify. ElderlyVenezuelan cinema is the production and industry of filmmaking in Venezuela. Venezuelan cinema has been characterised from its outset as propaganda, partially
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