Reconversion – Summaries of news and views OnVenezuela https://onvenezuela.com Thu, 30 Sep 2021 13:48:22 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.5 https://onvenezuela.com/wp-content/uploads/2020/01/cropped-Screen-Shot-2019-12-20-at-12.31.03-PM-1-32x32.png Reconversion – Summaries of news and views OnVenezuela https://onvenezuela.com 32 32 Currency reconversion in Venezuela: One bolivar of tomorrow, 100 billion of yesterday https://onvenezuela.com/currency-reconversion-in-venezuela-one-bolivar-of-tomorrow-100-billion-of-yesterday/?utm_source=rss&utm_medium=rss&utm_campaign=currency-reconversion-in-venezuela-one-bolivar-of-tomorrow-100-billion-of-yesterday Thu, 30 Sep 2021 13:48:19 +0000 https://onvenezuela.com/?p=11196

Take the annual budget of an oil-producing country and keep it in local currency untouched. Wait 14 years, and that money, then equivalent to 50 billion dollars, will be worth 25 cents on the dollar. Unlikely? It has happened in Venezuela. Full Text-> TheRioTimes

Traducción de cortesía -> Tome el presupuesto anual de un país productor de petróleo y manténgalo intacto en moneda local. Espere 14 años, y ese dinero, entonces equivalente a 50 mil millones de dólares, valdrá 25 centavos de dólar. ¿Improbable? Ha sucedido en Venezuela.

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