Venezuela Bets on De-Dollarization After Foreign Currency and Crypto Tax Is A...

Venezuela Bets on De-Dollarization After Foreign Currency and Crypto Tax Is A...

The government of Venezuela is now focusing its action on trying to establish the bolivar as the go-to currency for purchases in the country. According to several economists, this might be a risky bet in a country that has just exited hyperinflation and still suffers high levels of inflation. However, the establishment of a 3% tax targeting expenses in foreign currency and crypto is having some effects in this regard. Venezuela Seeks to Strengthen Its Fiat Currency After having defacto dollarization, which the president of the country called an “escape valve” from....


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