How could we curb Venezuela’s hyperinflation?


Shrey's Notepad

10000_front_1PHOTO CREDITS: Dan Mason

Look at this note.

As you might have guessed, it’s a note worth 10,000 Venezuelan bolívars. That seems like a lot, right? I’m a nice guy; I’ll give it to you. Go buy yourself a nice TV or something.

What’s that? They said you don’t have enough money?

Precisely.

As of July 27, 2016, this seemingly valuable note is worth just over one dollar (it’s almost definitely worth less by the time you’ll read this). In the UK, it wouldn’t be enough to buy you a Flake ice cream. This is because of the rapid hyperinflation that’s occurring in the South American country, leaving it in a tumultuous spiral of poverty, with some not even having enough to pay for essentials such as food or heating. A recent Bloomberg report even suggested that the Venezuelan government is running out of money to print money, such is…

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