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The situation in Venezuela is similar to that of Germany after the First World War.
Inflation in 1945 in Venezuela could reach one millionth by the end of the year, according to an IMF report presented by the Department of Western Affairs. Hemisphere Alejandro Werner
According to him, the economy this year may show a drop to 18%, although in April, the forecast was 15%. It should be noted that for Venezuela, it will be the third year in a row that drop rates are calculated using two-digit numbers.
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The IMF expert compares the seriousness of the situation in Venezuela to that of Germany after the First World War. If the latest forecasts are correct, in the five years of the crisis, the Venezuelan economy will be reduced by 50%; is the largest economic downturn in the world for 60 years.
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National currency buoy. In the Venezuelan capital, Caracas has decided to replace the highly depreciated bolivar on its own banknotes. Residents are tired of hanging out in the stores the whole number of banknotes. This year, the disease has already depreciated by 14 thousand percent. Thus, the capital city has invented the alternative of the Caribbean currency.
Werner notes that the catastrophic economic slowdown, hyperinflation and the situation of the Venezuelan population will have a negative impact on the situation in neighboring countries. Recall that earlier metro in Caracas, the capital of Venezuela became free because it is simply not possible to make tickets in the country.
As noted, the raw material is produced by Venezuela. However, for more than a year, the country has not provided the transport company with money to buy raw materials.
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