Venezuela’s currency crisis explained
August 22, 2018 3:01 pmVideo
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Professor Steve Hanke, one of the world’s leading experts on #hyperinflation and former adviser to #Venezuela’s former President Rafael Caldera, says dollarisation is the only way to get out of the hyperinflationary spiral. That’s after the President devalued the currency by 96% and pegged it to the state-backed cryptocurrency the #petro. He also raised the minimum wage by 3500% as the country faces an economic malaise, a migration crisis and political instability.
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