The international monetary Fund (IMF) reports that by the end of this year, the price increase in Venezuela could reach 480% and in 2017 to exceed 1640%.
Note that at the moment Venezuela is experiencing a severe economic crisis. Today on store shelves in Caracas are missing over 80% of basic goods.
So, just over the weekend the border with Colombia (in order to buy food and medicine) crossed about 130 thousand inhabitants of Venezuela.
Experts believe that the government of Venezuela in the near future will be forced to seek help from the IMF. However, the Fund representatives argue that while the country’s leadership did not attempt to restore relations, severed under Hugo Chavez nearly a decade ago.
We will remind that in may the acting President of Venezuela Nicolas Maduro extended state of emergency in the country’s economy.