THE TOILET PAPER ECONOMY

摘要

By any stretch of the imagination, Venezuela has problems. Under the stewardship of former bus driver, president Nicolas Maduro, the country is falling apart. It has the distinctly dubious honour of both the world's worst inflation and GDP figures. Despite central bank assurances in mid-February that the country's inflation rate in 2015 was only 180.9%, the International Monetary Fund believes that the real figure is closer to 700%. The IMF also reckons that the economy is likely to contract by 8% this year, following last year's decline of 10%.