In Venezuela compounded the humanitarian disaster caused by the economic policies of the government. The national currency, the Bolivar, fell sharply in price, while food prices rose. In the country – the lack of food and medicine. It is reported by CNN Money.
According to website DolarToday, the Bolivar has lost 96% of value since 2017 Now for $1 to give 84 thousand bolivars, whereas in the beginning of November – 41 thousand bolivars, and in January -3,1 thousand
According to Steve Hanke, Professor at Johns Hopkins University, an expert on hyperinflation, inflation in Venezuela compared with last year was 4115%.
Venezuelan research firm Ecoanalitica estimated the inflation by the end of October 1430% in annual terms.
President Nicolas Maduro said that the country will have to restructure the external debt. According to the Agency Moody’s Investor Service, Venezuela’s foreign debt is at least $141 billion.
Earlier it was reported that Venezuelan authorities are considering the possibility of creating their own cryptocurrencies to overcome hyperinflation.