Dollarn tar över: ”Pengar i madrasserna som Escobar”

Hyperinflation in Venezuela is a period of currency instability in Venezuela that began in November 2016 during the country's ongoing socioeconomic and political crisis. Venezuela began experiencing continuous and uninterrupted inflation in February 1983, with double-digit annual inflation rates. From 2006 to 2012, the government of Hugo Chávez reported decreasing inflation rates during the entire period. Inflation rates increased again in 2013 under Chávez's successor, Nicolás Maduro, and continued to increase in the following years, with inflation exceeding 1,000,000% in 2018. In comparison to previous hyperinflationary episodes, the ongoing hyperinflation crisis is more severe than those of Argentina, Bolivia, Brazil, Nicaragua, and Peru in the 1980s and 1990s, or that of Zimbabwe in the late-2000s. In 2014, the inflation rate reached 69%, the highest in the world. In 2015, the inflation rate was 181%, again the highest in the world and the highest in the country's history at the time. The rate reached 800% in 2016, over 4,000% in 2017, and 1,698,488% in 2018, with Venezuela spiraling into hyperinflation. While the Venezuelan government "has essentially stopped" producing official inflation estimates as of early 2018, inflation economist Steve Hanke estimated the rate at that time to be 5,220%. In April 2019, the International Monetary Fund estimated that inflation would reach 10,000,000% by the end of 2019. The Central Bank of Venezuela (BCV) officially estimates that the inflation rate increased to 53,798,500% between 2016 and April 2019.