IMF forecasts for Venezuela an inflation of 1,000,000% in 2018
IMF forecasts for Venezuela an inflation of 1,000,000% in 2018
July 23, 2018
translated from Spanish
The International Monetary Fund (IMF) predicts that, announced today by the director of the Department of the Western Hemisphere, Alejandro Werner.Venezuela will close this 2018 with an inflation of one million percent
"The situation in Venezuela is similar to that of Germany in 1923 or Zimbabwe in the late 2000s." the economist said.
The latest forecast of the IMF on Venezuelan inflation for this 2018, announced in April, was 13,000 percent. At that time, Werner himself described the crisis in Venezuela as one of the biggest in the history of modern economy.
The IMF estimates that the government of Nicolás Maduro will continue to incur large fiscal deficits financed "entirely" by an expansion of the monetary base, which will continue to fuel the acceleration of inflation, Werner said.
The Fund also corrects upward the forecast for the fall of the Venezuelan gross domestic product for this year.
-snip-
http://reporteconfidencial.info/noticia/3314194/fmi-pronostica-para-venezuela-una-inflacion-de-1000000-en-2018/
I think one of the forum's most prolific posters had complained earlier that Argentina's inflation rate was close to 20%? But not a peep about Venezuela?