Archived article

Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.

The country is facing an economic crisis
Thursday 22 Dec 2016 Author: Daniel Coatsworth

Venezuela has been grabbing world media headlines with stories of hyper-inflation. Rucksacks full of cash have been required to pay bills at restaurants or supermarkets, according to press reports.

The International Monetary Fund predicts that Venezuela’s inflation could average 475% in 2016.

If you think that sounds awful, wait until you hear the IMF’s forecast for next year. It estimates inflation hitting 1,660%.

Unemployment rates are expected to hit 21.4% which is nearly three times the 7.4% rate seen in 2015.

‹ Previous2016-12-22Next ›