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As Venezuela printed more money for their social programs, the Bolívar continued to devalue for Venezuelan citizens and merchants since the government held the majority of the more reliable currencies. [206] As of January 2018, the strongest official exchange rate was 1 US$ to 10 VEF while the free market exchange rate was over 200,000 VEF to ...
During the 20th century, "Venezuela was a haven for immigrants fleeing Old World repression and intolerance" according to Newsweek. [2] Emigration began at low rates in 1983 after oil prices collapsed, though the increased rates of emigration, especially the flight of professionals, grew largely following the Bolivarian Revolution which was led by Venezuelan president Hugo Chávez. [33]
As Venezuela printed more money for their social programs, the bolívar continued to devalue for Venezuelan citizens and merchants since the government held most of the more reliable currencies. [67] Because merchants could purchase only limited amounts of necessary foreign currency from the Venezuelan government, they resorted to the black market.
The prolonged economic and political instability in Venezuela has forced millions of Venezuelans to leave over the past decade, quashing many of their dreams and leaving many wondering if they'll ...
A Venezuela election body stacked with Maduro backers has declared Maduro the winner of the country’s July 28 election but refused to release vote tallies. Opposition leaders say partial tallies ...
The U.S. government will not renew humanitarian paroles under a Biden program that has allowed hundreds of thousands of Venezuelans, Haitians, Cubans and Nicaraguans to come to the United States ...
Due to lack of medical supplies, food and medical care in Venezuelan hospitals, many pregnant women in Venezuela are crossing the border into neighboring countries to give birth. [195] Lack of basic medicine and equipment is causing preventable deaths and maternity is a very high risk for women, especially since there are no blood banks in the ...
Barter may also occur when people cannot afford to keep money (as when hyperinflation quickly devalues it). [ 18 ] An example of this would be during the Crisis in Bolivarian Venezuela , when Venezuelans resorted to bartering as a result of hyperinflation.