Hyperinflation in Venezuela
Hyperinflation in Venezuela is the currency instability in Venezuela that began in 2016 during the country's ongoing socioeconomic and political crisis. Venezuela began experiencing continuous and uninterrupted inflation in 1983, with double-digit annual inflation rates. Inflation rates became the highest in the world by 2014 under Nicolás Maduro, and continued to increase in the following years, with inflation exceeding 1,000,000% by 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, and that of Zimbabwe in the late-2000s.
Venezuelan migrants in Bogotá selling crafts made of worthless Venezuelan banknotes in November 2019
Venezuelan banknotes scattered in the street during the Venezuelan presidential crisis
Venezuela, officially the Bolivarian Republic of Venezuela, is a country on the northern coast of South America, consisting of a continental landmass and many islands and islets in the Caribbean Sea. Venezuela comprises an area of 916,445 km2 (353,841 sq mi), and its population was estimated at 29 million in 2022. The capital and largest urban agglomeration is the city of Caracas.
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Cult image sculpted in ceramic, Los Roques Archipelago.
Petroglyph in the Waraira Repano National Park.
El Libertador, Simón Bolívar.