Late last year, IMF economists were concerned that officials had failed to implement remedial measures.
“It’s very hard to exaggerate the extent of disruption in the Venezuelan economy,” IMF Chief Economist Maurice Obstfeld told The Voice of America on Monday.
Obstfeld also said Zimbabwe’s hyperinflation and the great historical hyperinflation of the inter-war period are the only ones that rival Venezuela’s current hyperinflation. In April, IMF economist Gian Maria Milesi-Ferretti warned that the “very critical” situation in Venezuela was afffecting the outlook for Latin America’s growth rate. more …
Opinion: Venezuela is one of the most oil-rich countries in the world. Socialism claims another victim as inflation is above 46,000 percent.
While power outages, gas lines and soup kitchens are the norm in Venezuela, one day after the Church of Jesus Christ is removed (1 Cor. 15:51-52; 1 Thess. 4:16-18) Venezuela-style hyperinflation will begin to engulf the world.
“When the Lamb opened the third seal, I heard the third living creature say, “Come!” I looked, and there before me was a black horse! Its rider was holding a pair of scales in his hand. Then I heard what sounded like a voice among the four living creatures, saying, “Two pounds of wheat for a day’s wages, and six pounds of barley for a day’s wages, and do not damage the oil and the wine!” Rev. 6:5-6
No one needs to be here for that (Acts 16:31). How many people do we need to warn today?