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Oil-Rich Venezuela Tips Toward Hyperinflation

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  • Janet Koech

Abstract

Venezuela, once the wealthiest nation in Latin America, is suffering a dramatic reversal of fortunes and the worst economic crisis in its history. Though the nation has crude oil reserves of close to 300 billion barrels?the world?s largest such holdings?many Venezuelans go without the most basic goods in an economy plagued by chronic shortages.

Suggested Citation

  • Janet Koech, 2016. "Oil-Rich Venezuela Tips Toward Hyperinflation," Annual Report, Globalization and Monetary Policy Institute, Federal Reserve Bank of Dallas, pages 4-11.
    • Handle: RePEc:fip:feddgm:00033
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