Briefings & Intelligence

56-09-2018: Latin American Economy Business report

  • LatinNews

Venezuela’s surreal red package

Venezuela’s descent into hyperinflationary chaos accelerated in August. A set of economic measures announced on 17 and 20 August, known as the ‘red package’, was intended to turn the economy around and put it on the path to recovery. But with analysts describing the measures as “incoherent” and even “surreal” there seemed little chance of a change in direction: subsequent announcements have caused additional uncertainty. 

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