Venezuela has responded to this need for revenue by simply printing more money – and that has led to spiralling inflation, with the currency becoming increasingly weak in terms of its purchasing power. Chávez and his successor, Nicolás Maduro have each responded to this spiralling inflation in ...
currency crisis is brought on by a sharp decline in the value of a country's currency. This decline in value, in turn, negatively affects an economy by creating instabilities inexchange rates, meaning one unit of a certain currency no longer buys as much as it used to in another currency...
There have been some extreme examples in the past. For instance, the currency in Germany after the First World War was almost not worth anything more. And recently, there has been some very high inflation in Venezuela. These extreme cases are sometimes calledhyperinflation. Hyperinflation is never...
Venezuela. The latest case of hyperinflation began in Venezuela in 2016 and is still going on. Inflation in the country was high even before that, but it grew out of control after the government printed money to deal with a financial crisis. As of early 2020, the inflation rate was 15,00...
leading economic actors to expect further expansions later on. Ultimately, a crack-up boom can cause a country to devalue its currency, leading economic actors to abandon the monetary system. Crises similar to a crack-up boom have already happened in countries like Argentina, Venezuela, and Germa...
Fiat money is tender not backed by a tangible asset or commodity like gold. It’s usually mandated by governments & leads to corrosive effects on society.
Emerging bonds earned double-digit returns this year, shrugging off Venezuela's expected default, in a striking contrast to crises in Asia in 1997 or Turkey in 2001, shockwaves from which rippled through the developing world. Change has been building for a while. There was little conta...
That's what happened to oil refineries after Hurricane Katrina. In general, the depletion of natural resources is a growing cause of cost-push inflation. For example, overfishing has reduced the supply of seafood and driven up prices. Government regulation and taxation can also reduce supplies. ...
Samoa, Somalia, South Georgia and the South Sandwich Islands, South Korea, South Sudan, Sudan (North), Suriname, Syrian Arab Republic, Tajikistan, Tunisia, Turkmenistan, Turks and Caicos Islands, United States of America, Uruguay, Vanuatu, Venezuela (Bolivarian Republic of), Virgin Islands (U.S...
Alex Gladstein has a massive archive of articles reporting on the various emerging market use-cases for bitcoin over the past several years, ranging from Sudan to Palestine to Cuba to Iran to Venezuela and more. Anita Posch also has a great interview series called Bitcoin in Africa that explore...