Venezuela's Hyperinflation Crisis Explained! | Why is Venezuela in an economic crisis? | Mint Tree

Показать описание

Today, 1 US Dollar is worth over 2.3 million Venezuelan Bolivars. One month ago, 1 USD was worth 1.8 million Venezuelan Bolivars. Yes, I'm not kidding. That is how much the value of the Bolivar has decreased in the last month. The inflation rate of Venezuela in 2018 was 1.7 million %. Today, Venezuela is suffering from a hyperinflation crisis. But, did you know that at a certain point of time, not too long ago, Venezuela was the richest, most democratic and most stable country in Latin America, and was praised all over the world. A series of unfortunate events and bad decisions have put Venezuela into an economic crisis.

So, in this video, I have explained the story of Venezuela, how it ended up in an economic crisis, the series of unfortunate events and bad decisions made, and how that affected Venezuela's economy! I have also explained the hyperinflation crisis in Venezuela today, and all the in's and out's of it!

Here is a summary of the entire video:

1. Causes of the Hyperinflation Crisis in Venezuela:
(i) 1986 Oil Price Crash
(ii) Excess Government Funding
(iii) 2008 Global Financial Crisis
(iv) Printing Notes

2. Morals to be Learnt From Venezuela's Hyperinflation Crisis:
(i) Printing notes to combat an economic crisis is not a wise solution.
(ii) Excess government funding should not be done.
(iii) The economy of any country should be diversified, so that an impact on one industry won't heavily affect the economy of a country.

#VenezuelaCrisisExplained #HyperinflationCrisis #MintTree

Music Credits: Ross Bugden
Track Used: The Wasteland

So, I hope you liked this video. If you did, then please don't forget to smash the like button! Also, please do subscribe! It would be greatly appreciated!

Thanks for watching!