Chart of the week: Venezuela's lost decade and a half

Venezuela's downward spiral is likely to endure until the political stalemate between the government and the opposition is resolved.

948_COTW

The Venezuelan government has stopped publishing official economic statistics, says Andreas Knobloch in Finanz und Wirtschaft. No wonder: the country is in a state of total collapse.

According to the International Monetary Fund, the country's hyperinflation is getting worse, with the annual pace of price rises expected to climb from 2018's 1,000,000% to 10,000,000%.

Subscribe to MoneyWeek

Become a smarter, better informed investor with MoneyWeek.

Falling oil prices have undermined export earnings; shortages, sanctions, and pervasive corruption wiped 40% and 30% off national output in 2017 and 2018 respectively; and annual GDP has receded to levels last seen in the 2000s.

The "downward spiral" is likely to endure until the political stalemate between the government and the opposition is resolved.

Advertisement
Advertisement - Article continues below
Advertisement

Recommended

Visit/519858/how-long-can-the-good-times-roll
Economy

How long can the good times roll?

Despite all the doom and gloom that has dominated our headlines for most of 2019, Britain and most of the rest of the developing world is currently en…
19 Dec 2019
Visit/503514/the-charts-that-matter-tesla-hits-a-pothole
Economy

The charts that matter: Tesla hits a pothole

Electric-car group Tesla has had a rough week. John Stepek looks at what was behind it, and at the rest of the global economy’s most important charts.
16 Mar 2019
Visit/economy/600859/the-uk-is-doing-fine
Economy

The UK is doing fine

The small matter of the productivity problem aside, the UK economy is doing fine, and should carry on being fine.
20 Feb 2020
Visit/economy/600838/money-minute-monday-17-february-good-news-ahead-for-the-uk-economy
Economy

Money Minute Monday 17 February: good news ahead for the UK economy?

Today's Money Minute looks to a week in which we get the latest employment and inflation numbers, plus retail figures for January and a slew of eurozo…
17 Feb 2020

Most Popular

Visit/investments/stocks-and-shares/600863/sirius-minerals-anglo-american-takeover
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Visit/investments/commodities/gold/600874/gold-is-at-its-highest-level-in-years-heres-how-to-invest
Gold

Gold is at its highest level in years – here’s how to invest

Gold's rise at a time when the dollar is unnervingly strong isn't unheard of – but it is curious. John Stepek explains what's going on, and what it me…
21 Feb 2020
Visit/investments/stocks-and-shares/share-tips/600843/share-tips-of-the-week
Share tips

Share tips of the week

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
21 Feb 2020
Visit/investments/commodities/600729/the-rare-earth-metal-that-wont-be-a-secret-for-long
Sponsored

The rare earth metal that won't be a secret for long

SPONSORED CONTENT – You can’t keep a good thing hidden forever; now is the time to consider Pensana Rare Earths and the rare earth metals NdPr.
31 Jan 2020