Venezuela's hyperinflation is rivaled only by Zimbabwe, IMF economist says

IMF economist warns of 'economic collapse' in Venezuela: Voice of America

Venezuelans shop at a market in San Cristobal where power outtages add to the stress of a struggling economy. Cody Weddle/Local 10 News

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. 

 

 


About the Author:

The Emmy Award-winning journalist joined the Local 10 News team in 2013. She wrote for the Miami Herald for more than 9 years and won a Green Eyeshade Award.