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Andean Group - August 2018 (ISSN 1741-4466)

Hyperinflation razes the Venezuelan economy

Hyperinflation is now causing severe problems in Venezuela, rendering the economy totally dysfunctional. Yet the Caracas government led by President Nicolás Maduro remains devoid of new policy ideas, preferring to fall back on price and currency controls that do nothing but exacerbate the problem. The introduction of a brand new currency is one potential solution that may be on the table.

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