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Inflation

Does Venezuela’s Crisis Prove Socialism Doesn’t Work?

(Shutterstock.com)

Ryan Mallett-Outtrim gives a run-down of the root causes of Venezuela's economic problems, arguing that the government's maintenance of exchange controls, not socialism, has sunk the country into a financial black hole.

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Venezuela – A Last Warning

Imports dropped by 18.7% in 2015 due to collapsing oil prices, forcing Venezuelans to queue up for government-regulated goods or

Venezuela's crisis is the failure not of socialism but of reformist attempts to tame and humanize capitalism, argues Jorge Martin. 

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What is at Stake is not the Stability of a Government but the Viability of a Nation

Economist and ex-minister Victor Alvarez (archives)

In this interview, investigator and former Mining and Basic Industries Minister, Victor Alvarez, argues that the government must implement an economic stabilisation plan with social welfare before it is too late.

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Venezuela Begins Printing 500 and 1000 Bolivar Bills, Signs Oil Deal with Russia

100 Bolivar bills (courtesy)

Venezuela’s Central Bank announced Monday that it would begin printing 500 and 1000 Bolivar bills while phasing out smaller denominations in a bid to keep pace with the country’s soaring inflation.

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How Bad is Venezuela's Economic Situation?

(AVN)

Ryan Mallett-Outtrim runs readers through an indepth breakdown of the current economic situation in Venezuela. He argues that despite the dire outlook, not all is lost.

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Venezuelan Central Bank Releases Inflation Data after Year-Long Gap

Accumulated inflation rates for 2014 and 2015. (Venezuelan Central Bank)

The Venezuelan Central Bank has released data relating to the country’s debt and accumulated inflation rates after keeping the numbers under wraps since December 2014, on the grounds that the country is at war.

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The Roots of the Current Situation in Venezuela

(AP)

Venezuelanalysis's Gregory Wilpert breaks down the causes of the current difficulties in Venezuela, arguing that they can be traced to the currency control measures implemented in 2003 - designed to defend the government against a capitalist attack on its currency.

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How Deep Does the Crisis Cut?

People ride on a public bus past a street mural of Venezuela’s late President Hugo Chávez in Caracas.  (Photo: Ariana Cubillo

VA's Z.C. Dutka analyzes the roots of the current economic crisis in Venezuela and calls on the Maduro government to assume responsibility for the acute difficulties faced by the country's popular classes, which she identifies as a crucial step for further deepening the Bolivarian Revolution.

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Venezuela’s PDVSA Discusses Sale of Citgo as Central Bank Reports Drop in Inflation

A Citgo gas station in Chicago, USA. (Wikimedia Commons/Sdi-jr)

Yesterday the Venezuelan Central Bank reported that inflation has dropped steadily from 5.7% in May of 2014 to 3.9% in the month of August, representing 63.4% accumulated inflation since August of last year. Now under new management, state-owned oil and gas company PDVSA is reportedly seeking US$10 billion dollars for the sale of the Citgo Petroleum Corporation.

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Venezuelan Biometric System Sees Positive Results amid Opposition Boycott

A biometric scanner. (quepasa.com)

Now installed in 11 major supermarket chains nationwide, the biometric system initiated by the Venezuelan government to combat scarcity has produced immediate results. 

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