The acceleration of hyperinflation in Venezuela will continue

Hyperinflation could exceed the rate of 10,000,000% in 2019 according to analysts from the International Monetary Fund

According to the International Monetary Fund (IMF) in Venezuela, hyperinflation is expected to continue and exceed 10,000,000% in the year that is just beginning. On the other hand, the accumulated contraction of the economy already exceeds 50% since 2013.

Alejandro Werner, director for Latin America and the Caribbean of the IMF, said at a press conference the loss of momentum in Latin America that will grow by 2% in 2019, two tenths below what was expected last October.

In addition, the official said that “if the Venezuelan economy contracted by 18% in 2018” there is nothing that “allows predicting that the economic contraction will be significantly lower in 2019.”

“The Venezuelan economy today is less than half of what it was in 2013,” Werner said bluntly.

In the same way, before the political events that take place in Venezuela, Werner stressed that the International Monetary Fund will be guided by the “international community” at the time of officially recognizing the Venezuelan government, after the representative of the National Assembly Juan Guaidó be proclaimed as president in charge. Meanwhile, uncertainty sharpens the economic and political crisis in the nation.


Source: Finanzas Digital 

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