Inflation Nation

[Pro-Life]

This Is What Hyperinflationary Collapse Looks Like
by Tyler Durden Jul 19, 2016 1:58 PM

http://www.zerohedge.com/news/2016-07-19/what-hyperinflationary-collapse-looks-venezuela-cpi-hit-3500-three-years

The bad news for ordinary Venezuelans is that unless they can permanently move to Colombia or any other country, their plight is only going to get worse. The reason is that according to the IMF, Venezuela's consumer-price inflation is forecast to hit 480% this year and top 1,642% in 2017, according to the International Monetary Fund. At that point it will proceed into suborbital hyperinflationary territory, hitting 2,880% in 2018 before "plateauing" at 3,500% in 2019.

While it has been speculated that the insolvent nation will soon have to ask the IMF for a bailout, Venezuela, whose government severed ties with the IMF nearly a decade ago under its former socialist autocratic leader, Hugo Chávez, hasn’t tried to restore relations with the world’s emergency lender. Cited by the WSJ, IMF spokesman Gerry Rice said that “there has been no change in Venezuela’s relationship with the fund. The Venezuelan authorities have not contacted us."

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