Beware of Socialism – What it costs to buy a chicken in Venezuela


Banks closed Monday in Venezuela as they prepared to release the “sovereign bolivar,” a new currency printed with five fewer zeroes in a bid to tame soaring inflation.

Here are a few pictures that illustrate the limited purchasing power of the old bolivar.

This stack of 14,600,000 bolivars, or about $2.22 U.S., would buy this chicken at a mini-market in Catia, a low-income neighborhood of Caracas on Aug. 16.

 

Print Friendly, PDF & Email
(Visited 121 times, 1 visits today)
Please follow and like us:

RSS
Follow by Email
Facebook
Facebook
Twitter
INSTAGRAM