Venezuela currency chaos even 'worse than it sounds,' says expert

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Daniel Osorio, Andean Capital Advisors, discusses the state of the Venezuelan economy as the government devalues the bolivar to rein in rampant hyperinflation.

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🇻🇪 Can Venezuela recover from its financial crisis? | Inside Story

🇻🇪 Can Venezuela recover from its financial crisis? | Inside Story

Inflation has skyrocketed, prices are at an all-time high and the national currency, the Bolivar, has lost much of its value, The financial devastation has led to mass migration, starvation and political unrest. President Nicolas Maduro blames it on what he calls an “economic war” against his country His critics say widespread corruption and the government's mismanagement are responsible. In an attempt to solve the problem, the government has introduced a plan to curb hyperinflation. There's a new currency, the 'SOVEREIGN BOLIVAR', which will remove five zeroes from banknotes. It's backed by a cryptocurrency, the Petro, that's pegged to the price of oil. The government is also raising the minimum wage by 3000 percent, raising taxes and increasing petrol prices for some drivers How are Venezuelans reacting to the new measures? Presenter: Mohammed Jamjoom Guests Paul Dobson, journalist Sonia Schott, Latin America analyst Charles Shapiro, Former US Ambassador to Venezuela - Subscribe to our channel: http://aje.io/AJSubscribe - Follow us on Twitter: https://twitter.com/AJEnglish - Find us on Facebook: https://www.facebook.com/aljazeera - Check our website: https://www.aljazeera.com/ #Economic crisis #aljazeeraenglish

8 месяцев назад
What's happening in Venezuela? | CNBC Explains

What's happening in Venezuela? | CNBC Explains

Venezuela is amidst its worst economic crisis in decades. So how did such an oil-rich state collapse so catastrophically? Tom Chitty reports. Subscribe to CNBC International: http://cnb.cx/2gft82z Like our Facebook page https://www.facebook.com/cnbcinternational Follow us on Instagram https://www.instagram.com/cnbcinternational/ Follow us on Twitter https://twitter.com/CNBCi Subscribe to our WeChat broadcast CNBC_international

2 лет назад
Venezuela Crisis - वेनेज़ुएला संकट

Venezuela Crisis - वेनेज़ुएला संकट

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2 лет назад
Venezuela crisis: the view from Caracas farmers' market - BBC News

Venezuela crisis: the view from Caracas farmers' market - BBC News

Venezuela's economy has been in recession since 2014 - it's economy has shrunk by a third since then and the IMF thinks things could get worse next year with an estimated drop of 18% more. As the G20 nations meet in Buenos Aires, Venezuela is a worry nearby the summit for many of those attending including the host president Mauricio Macri. It's rare for international correspondents to be granted access to report from Venezuela, but the BBC's Vladimir Hernandez managed to send this report from Caracas. Please subscribe HERE http://bit.ly/1rbfUog

5 месяцев назад
Venezuela relaunches its petro cryptocurrency | Money Talks

Venezuela relaunches its petro cryptocurrency | Money Talks

The petro is back. This week, Venezuela re-introduced its cryptocurrency. It is part of economic reforms being made by the government. It hopes to end a recession that has caused food and medicine shortages. The first launch in February did not go as expected. Now the government promises tradability. But it's still unclear how that might work. Liz Maddock has the details. #Venezuela #Cryptocurrency #PetroCryptocurrency

7 месяцев назад