... the drop in Venezuela’s economic output under Mr. Maduro has undergone the steepest decline by any country not at war since at least 1975. By year’s end, Venezuela’s gross domestic product will have shrunk by 62 percent since the beginning of the recession in 2013. Venezuela has lost a tenth of its population in the past two years as people fled, even trekking across mountains, setting off Latin America’s biggest ever refugee crisis. Venezuela’s hyperinflation, expected to reach 10 million percent this year according to the I.M.F., is on track to become the longest period of runaway price rises since that in the Democratic Republic of Congo in the 1990s. “This is essentially a total collapse in consumption,” said Sergi Lanau, deputy chief economist at the Institute of International Finance…
Anatoly Kurmanaev
https://www.nytimes.com/2019/05/17/world/americas/venezuela-economy.html
