The president of the National Council of Commerce and Services (Consecomercio), Gustavo Valeillos, indicated that the organization predicts 40 % inflation in Venezuela by the end of this year.
Valecillos stressed “the commitment of the business sector” in terms of its contribution in terms of…
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hyperinflation
BCV: Venezuela registered an inflation of 4.1 % in the first quarter of 2024
Venezuela registered an accumulated inflation of 4.1 % in the first quarter of the year, after adding 1.2 % in March, the same as in February and 1.7 % in January, reported the Central Bank (BCV).
The 1.2 % rate is the lowest the nation…
Argentina closed 2023 with inflation of 211.4%
Argentina closed the year 2023 with year-on-year inflation of 211.4%, the highest figure since the period of hyperinflation in 1989-1990. This figure emerges from the first measurement carried out during the government of Javier Milei, who…
Argentine government devalued the currency by 50 %
In a drastic economic turnaround, last Tuesday, the government headed by Javier Milei devalued the national currency by more than 50 %, setting the official exchange rate at 800 pesos to the dollar, compared to 391 at the close of the…
Hyperinflation boosts the use of cryptocurrencies in Venezuela
Venezuelan citizens currently use dollars, euros, Colombian pesos for their transactions. Cryptocurrencies also have an important use in the market to cancel products and services as a result of the loss of value and confidence of the…
Venezuela’s economic challenges for 2022
The Venezuelan economy in 2021 was characterized by a series of restrictions imposed by the government due to the pandemic. However, for 2022 great challenges are assigned to achieve economic growth in the country.
The main economic…
Dorsey: “Hyperinflation will hit the whole world”
Jack Dorsey, CEO and one of the founders of the social network Twitter, assured that hyperinflation is an economic phenomenon that will soon spread to much of the world.
“Hyperinflation is going to change everything. It is happening”,…
José Guerra: “It is necessary to create another currency in Venezuela”
The third monetary reconversion is imminent, but that strategy will not make citizens prefer the bolivar. This was stated by the economist and former deputy José Guerra, who also indicated the need to create a new currency.
According to…