Rare official Iranian criticism of Venezuela

This is odd. Iran’s been buddy buddy with Venezuela since Chavez took over. Or perhaps it’s an effort to make the Iranian people think that things aren’t so bad in Iran, which also has high, but not hyper inflation?

An economic expert has calculated an unofficial inflation rate of almost 18,000 percent for Venezuela, exceeding a prediction by the International Monetary Fund of almost 14,000 percent.

Steve Hanke, a professor at Johns Hopkins University, claimed that Venezuela’s inflation rate quadrupled from 4,966 percent to 17,968 percent in just March and April.

That rate already exceeds the 13,864 percent predicted by the International Monetary Fund for all of 2018.

Neither of the figures have been confirmed by the Venezuelan government.

Experts attribute the cause of the hyperinflation in Venezuela to a recent move by the country’s President Nicolas Maduro, who announced an immediate 40-percent rise in the minimum national wage.


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