Zimbabwe’s monetary crises used to create money laundering…literally. To preserve their limited supply of worn U.S. dollars, households had to wash them: Now though, they have a new solution. Going Cashless Mobile money has become increasingly popular. Wherever hyperinflation is…
When Venezuela’s inflation rate entered the stratosphere, it created chaos that shifted the rhythm and rationality of daily life.
Swinging from hyperinflation to deflation, the value of Zimbabwe currency has created uncertainty for more than a decade.
Last year, Venezuela’s inflation rate exceeded 800%. For this year, the data conflicts. While the Wall Street Journal and the IMF say Venezuela is on its way to hyperinflation, Johns Hopkins economist Steve Hanke says the rate is closer to 70%.…
While Venezuela’s price ceilings created life threatening shortages and distorted incentives, lifting them will temporarily result in more distress.
Our economic news summary includes Venezuela’s hyperinflation and Dutch Disease, the NFL’s gender deficiencies, free trade, and new marriage markets.
Because of hyperinflation, Venezuela needs billions of bank notes so that businesses and consumers can pay the insane prices that rise daily.
With shortages of basic necessities, price controls, lack of foreign exchange and rising prices, Venezuela’s inflation rate is soaring.