WASHINGTON – International Monetary Fund economists warned Monday that Venezuela is facing an economic collapse.
Late last year, IMF economists were concerned that officials had failed to implement remedial measures.
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"It's very hard to exaggerate the extent of disruption in the Venezuelan economy," IMF Chief Economist Maurice Obstfeld told The Voice of America on Monday.
Obstfeld also said Zimbabwe's hyperinflation and the great historical hyperinflation of the inter-war period are the only ones that rival Venezuela's current hyperinflation.
In April, IMF economist Gian Maria Milesi-Ferretti warned that the "very critical" situation in Venezuela was afffecting the outlook for Latin America's growth rate.