Economy and Development

The Message of the Petro: Venezuela’s Crypto-currency Effort

November 15, 2018

Venezuela’s years long economic crisis has not slowed down, as the International Monetary Fund projects a 1,000,000% inflation rate by the end of 2018 (Ellsworth). The staggering statistics of Venezuela’s crisis, including both economic and humanitarian disasters, are recorded as one of the worst hyperinflation cases in modern history. Venezuelan President Nicolas Maduro has clung to power under wavering support for his last-ditch effort policies and socialist principles.

Argentina’s Macri struggles to establish austerity measures in the face of economic collapse

September 24, 2018

As the value of its currency continues to fall and its economy edges nearer to collapse, Argentina’s government is scrambling to establish new measures to protect its currency and to save the country from a long-term recession. The government recently proposed a new plan for the 2019 budget which now includes various initiatives to cut government spending.

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