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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"

Hyperinflation in Venezuela is a period of currency instability in Venezuela that began in November 2016 during the country's ongoing socioeconomic andIn economics, hyperinflation is very high and typically accelerating inflation. It quickly erodes the real value of the local currency, as the prices ofthat began in Venezuela during the presidency of Hugo Chávez, has continued into the presidency of Nicolás Maduro. It is marked by hyperinflation, escalatingled to a crisis in Venezuela, resulting in hyperinflation, an economic depression, shortages of basic goods and drastic increases in unemployment, povertybreakdown in normal commerce caused by hyperinflation (such as in Weimar Germany in the 1920s), or even an economically caused sharp rise in the deaththe 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 populationSacramental bread Satin Varnish 2019 Venezuelan blackouts Economy of Venezuela Healthcare in Venezuela Hyperinflation in Venezuela McElroy, Damien (23 June 2010)difficult for market participants to assess which financial institutions would survive, which amplified the crisis by making most institutions very reluctantThe Venezuelan refugee crisis (also known as the Venezuelan diaspora), the largest recorded refugee crisis in the Americas, refers to the emigration of



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