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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: D.Austin who wrote (1050744)	1/26/2018 9:32:52 AM
From: FJB	Respond to of 1586776

Half of Venezuelan economy has disappeared - BERNIE SANDERS' ECONOMIC MODEL FOR AMERICA IMF: Inflation is skyrocketing By PATRICK GILLESPIE Posted: 9:14 AM, January 25, 2018 wsls.com NEW YORK (CNNMoney) - Venezuela has lost half of its economy since 2013. It's getting worse. Unemployment will reach 30 percent and prices on all types of goods in the country will rise 13,000 percent this year, according to the International Monetary Fund. EU heaps sanctions on Venezuela as isolation grows Venezuela president offers pregnant women $3.83 a month Venezuela inches closer to collapse Angry Venezuelans take to streets for 'pork revolution' Venezuela crisis sends residents fleeing to nearby countries The IMF's economist for the Western Hemisphere, Alejandro Werner, put Venezuela's future bluntly. "In Venezuela, the crisis continues," Werner said in a blog post. He added that inflation is skyrocketing this year because of "the loss of confidence in the nation's currency." This year will mark the third consecutive year of double-digit contractions in Venezuela's gross domestic product, the broadest measure of economic activity. The nation's GDP declined 16 percent in 2016, 14 percent last year and it's projected to fall 15 percent this year, according to the IMF. Venezuela is deep into an economic, political and humanitarian crisis, largely inflicted by the government's own policies, economists say. Food and medical shortages are widespread. People are scavenging for food in dumpsters. Citizens are fleeing by the thousands. The currency, the bolivar, is nearly worthless. The government has defaulted on its debt. World leaders are calling President Nicolas Maduro a dictator. The political turmoil is not expected to get better. Maduro's administration said this week it will hold presidential elections this spring. Maduro has already excluded opposition leaders from participating in the election. It's unclear if anyone is actually allowed to run against him. Meanwhile, the economy shows no signs of recovery.