The catastrophic economic collapse plaguing Venezuela continued this week, with meat and produce rotting throughout the country after crippling power outages rocked the capital and surrounding towns.
According to the Times, desperate shoppers rushed to local markets and stores to purchase “rotting meat” while still suitable for human consumption.
“Shoppers are queueing to buy rotten meat in a city once famed for its vast oil wealth, as Venezuela’s currency crisis worsens and rolling power cuts mean no one can keep food fresh,” writes the Times.
“Residents of Maracaibo were understood to be falling ill yesterday from eating meat bought on discount, often the only protein they can afford as the country suffers hyperinflation amid grinding economic conditions,” adds the author.
Once purchased, shoppers are rushing to consume the products before further power outages render the food useless.
Read the full report here.
NIGHTMARE: Venezuela Struck with 7.3 MEGA EARTHQUAKE as Economy Crumbles
A massive 7.3 magnitude earthquake struck the northern coast of Venezuela Tuesday night; sending shockwaves through a region struggling with a crumbling economy and a collapsing socialist government.
The United States Geological Survey confirmed the mega quake occurred at 5:31pm local time near the city if Carupano.
— Érika Ortega Sanoja (@ErikaOSanoja) August 21, 2018
“The earthquake was felt more than 600km further east in Caracas, where the crisis-stricken nation’s political leaders were celebrating a ‘revolutionary’ new economic plan they claim will rescue Venezuela’s crumbling economy but economists fear will make it worse,” writes the Guardian.
Read the full story here.
PARADISE LOST: Inflation Nears 1,000,000% in Venezuela, Eggs Cost 2 WEEKS PAY
The economic crisis engulfing Venezuela reached new heights this week, with the nation’s currency seeing inflation rates nearing 1,000,000% as the socialist government struggles to contain the economic collapse.
According to the Washington Post, the Venezuelan Bolivar plunged in foreign exchange rates as the price of a dozen eggs reached 2,600,000 Bolivares in local supermarkets and shops.
“This week, for instance, the price of a dozen eggs topped 2.6 million bolívares — equal to two weeks’ pay at the minimum wage. But for a Venezuelan who can exchange dollars at the black market rate, those same eggs are a relative bargain, costing only 60 cents,” writes the Post.
“I never feel clean anymore,” said one citizen. “We’re hungry most of the time. I don’t think things will get better.”
Just this week, socialist president Nicolas Maduro admitted his government’s economic policies have totally “failed,” vowing to implement new guidelines to stabilize the crumbling currency.
Read the full report here.