Argentina, Combating Plummeting Currency, Raises Interest Rate to 60%

  1. Argentina, Combating Plummeting Currency, Raises Interest Rate to 60%  New York Times
  2. Argentina’s Central Bank Lifts Policy Rate to 60%  Wall Street Journal
  3. Argentina burns reserves and asks for early IMF help as peso crashes  Telegraph.co.uk
  4. Argentina Awaits Crucial IMF Verdict on Funds After Peso Tumbles  Bloomberg
  5. Full coverage


Source: Google News

Venezuela issues new currency, amid hyperinflation and social turmoil

  1. Venezuela issues new currency, amid hyperinflation and social turmoil  CNN
  2. Some Venezuelans, alarmed by Maduro’s measures, speed up plans to flee  Reuters
  3. Venezuela Braces for the Devaluation Storm  Bloomberg
  4. Steve H. Hanke | Water Institute  The JHU Water Institute – Johns Hopkins University
  5. Maduro orders 96 percent devaluation in hyperinflation-stricken Venezuela  Reuters
  6. Full coverage


Source: Google News

Venezuela cuts five zeros from currency as economic plan sows confusion

Venezuela cuts five zeros from currency as economic plan sows confusionCARACAS/VALENCIA, Venezuela (Reuters) – Venezuela on Monday slashed five zeros from prices as part of a broad economic plan that President Nicolas Maduro says will tame hyperinflation but critics call another raft of failed socialist policies that will push the chaotic country deeper into crisis. Streets were quiet and shops were closed due to a national holiday that Maduro decreed for the first day of the new pricing plan for the stricken economy, which the International Monetary Fund has estimated will have 1 million percent inflation by year end. The price change comes with a 3,000 percent minimum wage hike, tax increases meant to shore up state coffers and a plan to peg salaries, prices and the country’s exchange rate to the petro, an elusive state-backed cryptocurrency.


Source: Yahoo! News

Venezuela cuts five zeros from currency as economic plan sows confusion

Venezuela cuts five zeros from currency as economic plan sows confusionStreets were quiet and shops were closed due to a national holiday that Maduro decreed for the first day of the new pricing plan for the stricken economy, which the International Monetary Fund has estimated will have 1 million percent inflation by year end. The price change comes with a 3,000 percent minimum wage hike, tax increases meant to shore up state coffers and a plan to peg salaries, prices and the country’s exchange rate to the petro, an elusive state-backed cryptocurrency.


Source: Yahoo! News

Venezuela lops five zeros off its currency in bid to tackle hyperinflation

Venezuela lops five zeros off its currency in bid to tackle hyperinflationVenezuela is launching a new currency that slashes five zeros off the country’s fast-depreciating bills, in a bid to tackle the country’s accelerating hyperinflation. President Nicolas Maduro has also announced a 3,000 per cent hike in the minimum wage and a rise in the price of fuel to international levels, in changes that will be implemented from Monday.


Source: Yahoo! News