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 has recorded since August 2012, when goods and services became…
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Browsing Tag
hyperinflation
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…
Education as a tool to promote financial inclusion
Financial and technological education has been one of the topics recently discussed during the First Online Latin America Fintech Marathon, organized by the Sociedad Venezolana de Fintech y Nuevas Tecnologías (Fintech Venezuela). Carmen…
Tax reform would seek to overcome economic difficulties in Venezuela
As part of the restructuring of monetary policies, Nicolás Maduro and the National Constituent Assembly are promoting a tax reform that will charge a tax between 5% and 25% on transactions in foreign currencies and crypto assets, thus being…
Bitcoin trading keeps Venezuelan Petro in the background
The efforts of Nicolás Maduro's government to promote the petro in the nation seem insufficient in their eagerness to attract the attention of Venezuelans. The large activity of bitcoin operations during the last weeks coincided with…
Venezuelan industry operates 18% below its installed capacity
The president of Conindustria, Juan Pablo Olalquiaga, said that Venezuela is going through a deep economic crisis that has led the industry to operate below its installed capacity.
According to the survey of conjuncture of the first…
Central Bank of Venezuela expands the monetary cone
The Central Bank of Venezuela (BCV) announced that as part of the process of extending the current monetary cone it will include three new notes to the current family of monetary species. The purpose of the measure is to make payment…