Price of Food in Venezuela out of control.

News reports from the northern most  South America country tell about unprecedented food shortages in all of Venezuela.

The International Monetary Fund has predicted that inflation in Venezuela will hit 720% this year. That might be an optimistic assessment, according to some local economic analysts, who expect the rate to reach as high as 1,200%.

The quotation above is from the Los Angeles times. Other  sources confirm the economy of this otherwise prosperous country is in grave danger.

Venezuela is in Big Trouble. (Los Angeles Times.)

This is a sudden turn of events.  My Wife and I have vised different countries in South America and never would have thought this could happen to Venezuela, one of the most wealthy countries in South America.

About two months ago the Cellphone service in Venezuela staoope3d international calls.

The telephone companies have said they are tens of millions of dollars in debt to foreign providers and have unsuccessfully asked the government to increase rates for international calls.

The above is from CBS news.

If you are thinking about  visiting friends in that country, consult carefully with your travel agent. This might not be the best time.





Leave a Reply