Cash-Strapped Venezuela Borrows From Itself
According to the New York Times, as many as 200,000 Venezuelans have left their country in the past 18 months in an attempt to flee the rapidly deteriorating country. Food and energy shortages plague the country, inflation is expected to hit a staggering 1,500% in 2017, and the IMF believes the state’s unemployment rate hit 17% at the end of 2016.
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As Venezuela’s economic situation rapidly spirals out of control, the government– which is arguably entirely responsible...
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