“[Venezuela] is deep in crisis. It has the world’s highest inflation rate — 720 percent and rising. Its currency has plummeted to less than 1 percent of its official value, making it hard to import food. Hunger is endemic. Buying food at subsidised shops where price controls operate involves queuing for four hours, only on certain days, and sometimes still getting nothing. Medicines and sanitary products are scarce. Chronic power blackouts have seen factories close and public sector workers move to a two-day week. Growing numbers are emigrating, or depend on products sent by relatives abroad.”
This description of Venezuela’s ongoing …read more
Source: CapX