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Crushing inflation drives spectacular growth in cryptocurrencies
Plagued with hyperinflation, an incredible 90 percent of the population of Venezuela is now under the poverty line. That’s compared to a still-extraordinary 48 percent just four years ago. So many children are malnourished and adults are going hungry that Venezuelans have coined a term for it. They call it “The Maduro Diet”, in honour of President Nicolás Maduro’s failed economic policies. Annualised inflation in Venezuela is now running around 1,000,000 percent. A year ago, you could get a cup of coffee for 0.05 bolivars, the country’s currency. Today, that same cup of coffee would cost 3.5 million ... (full story)