Venezuela turns to crypto amid massive U.S. dollar shortage
From thestreet.com
Venezuela is currently facing a "currency drought" that is making the simple act of doing business nearly impossible. While the country’s largest corporations still have access to U.S. dollars through official channels, smaller firms are being systematically pushed out. This shortage of hard cash has created a massive obstacle for the nation’s mid-sized manufacturers, leaving them unable to pay for the imported chemicals and raw materials needed to keep their factories running, as per a Reuters report. The problem is getting worse, not better. A recent survey by the trade group Conindustria shows that 58% of ...
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