Venezuela May Reach 1M Percent Inflation Rate, IMF Warns

“That’s how we make do in our collapsing economy. If somebody has lots of one thing and too little of another, an arrangement can be made… There are Facebook pages and chat-room groups devoted to the swap-ability of everything from toothpaste to baby formula,” writes Fabiola Zerpa, a Venezuelan writer for Bloomberg.

“Venezuela is regrettably headed for a lot of economic and political instability, even towards ungovernability, but there could be a political transition at that point,” said Asdrubal Oliveros, director of Ecoanalítica, a Venezuelan economics consultancy. “It would be very disorganized, of course, but in the end it would be a transition.”

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