Stunning new data released this week showcases the devastating impact of Venezuela’s crumbling economy on average citizens; revealing approximately 30% of the nation’s residents are able to eat “just once a day” as food prices spiral out of control.
According to the Miami Herald, Venezuelans are struggling to find food and drinkable water across the country. If found, many are unable to afford the spiking prices or locate the nation’s new currency.
“At the root of the country’s malaise is hunger. Asked about their weekly eating habits, 30.5 percent said they often ate only once a day and 28.5 percent reported that they ate “nothing or close to nothing” at least one day a week. In all, 78.6 percent reported trouble keeping themselves fed,” writes the Herald.
The once-rich nation is facing a year-long financial free fall. Socialist President Nicolas Maduro vowed to crackdown on the escalating crisis last week; slashing five zeroes from Venezuela’s currency and drastically raising the minimum wage.
Read the full story at the Miami Herald.
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.
PARADISE LOST: Venezuelans Buying ROTTEN MEAT After Widespread Power Outages
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.