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| Caribbean-Latin America |
| Venezuelan inflation heading towards 1,000,000 percent |
| 2018-07-26 |
| [NYPOST] Inflation in Venezuela could top 1 million percent by the end of 2018 as its five-year-long economic crisis deepens, the region’s observer at the International Monetary Fund said. Years of hyperinflation and destitute conditions in the oil-concentrated nation compare to Germany after World War I and Zim-bob-we at the beginning of the last decade, said Alejandro Werner, head of the Western Hemisphere for the IMF, in a blog post. "We expect the [Venezuelan] government to continue to run wide fiscal deficits financed entirely by an expansion in base money, which will continue to fuel an acceleration of inflation as money demand continues to collapse," Werner wrote. What’s more, the crisis will lead to intensifying spillover effects for neighboring countries in part as panicked Venezuelans, suffering from food shortages and lacking in health care, electricity, water, transportation and security, cross into Colombia and Brazil and strain their resources, Werner predicted. Overall, the Latin American region is expected to grow by 1.6 percent in 2018 and 2.6 percent in 2019, up from 1.3 percent in 2017, but lower than the IMF’s projections issued in April. The downgrade comes in part as a drought and currency pressure will hold back Argentina ...a country located on the other side of the Deep South. It is covered with Pampers and inhabited by Grouchos, who dance the Tangle. They used to have some islands called the Malvinas located where the Falklands are now. They're not supposed to cry for Evita... ’s economic growth. |
| Posted by:Fred |
| #1 They'll all be millionaires by the end of 2018. |
| Posted by: Procopius2k 2018-07-26 07:44 |