Tuesday 26 September 2023

In Venezuela there is food, but expensive

Venezuelans are condemned to continue finding unconventional ways to live in the often absurd lettuce-based economy

Paying the bills


How much you will save at the end of the year with the Marchamo?

QCOSTARICA -- The reduction in the amount of the...

“Lady Gaga”, “Obama” and “Bin Laden”: names of crocodiles that attract tourists in Costa Rica

QCOSTARICA (VOA) The Tárcoles River, famous in Costa Rica...

Misleading: El Salvador President Nayib Bukele “put an end to the gangs and terrorists”?

Q24N (VOA) On the social network X (formerly Twitter)...

“Liar”, “corrupt”: Words Ticos associate with Chaves

QCOSTARICA (Crhoy) Since Rodrigo Chaves Robles took office in...

“There is a competition between left and right populism on the continent”

Q24N -- Populism, “an unwanted child of democracy,” is...

President Chaves to visit Panama amid migration crisis

QCOSTARICA -- Costa Rica's President Rodrigo Chaves is planning...

Fatphobia in Costa Rica out of control

QCOSTARICA -- In the era of social media, where...

Dollar Exchange

¢535.29 BUY

¢540.72 SELL

26 September 2023 - At The Banks - Source: BCCR

Paying the bills


Q24N – The Venezuelan economy has begun to reactivate. In supermarkets, which until recently had empty shelves, today you can find Pringles potatoes, Pantene shampoo and even Nutella.

According to The New York Times, the reason for this change is the informal dollarization of the economy.

- Advertisement -

The newspaper assures that around 70% of the transactions that are made in Venezuela today are in dollars, and almost all in cash.

With dollars there is everything, but everything is expensive. The average salary in that country today is US$120 a month; At the time when the dollar could be converted into bolivars with that money, you could shop for groceries with that for three months.

Now, with dollars in cash, it buys only enough for the basics: sugar, coffee, milk, and flour.

In recent years, millions – an estimated five million people, or over 15 percent of the population – have fled Venezuela. That translates into greater access to dollars in the country since many Venezuelans abroad send money to their families back home.

An improvised dollar economy is also not completely immune to hyperinflation. Prices are still going up, and they’re even higher now that they’re set in dollars

This makes it hard for many Venezuelans to afford everyday items. “If I buy a pair of socks, I can’t buy eggs,” Dilmary Rivas told the NY Times. “It’s like I traded one problem for another.”

- Advertisement -

That’s next to impossible under the political stalemate between Venezuela President Nicolas Maduro, a president who is not recognized by the United States, and Juan Guaidó, the opposition leader recognized by Washington as interim president but who is struggling to stay relevant.

In the meantime, Venezuelans are condemned to continue finding unconventional ways to live in the often absurd lettuce-based economy.


- Advertisement -
Paying the bills
Avatar photo
Q24N is an aggregator of news for Latin America. Reports from Mexico to the tip of Chile and Caribbean are sourced for our readers to find all their Latin America news in one place.

Related Articles

Venezuela, migrate or return?

Q24N (EFE) Daniel Zambrano, of Caracas, Venezuela, dreams of a future...

Take care of purchase decisions and indebtedness in the face of the fluctuating dollar exchange

QCOSTARICA -- In recent weeks, unusual volatility has been observed in...

Subscribe to our stories

To be updated with all the latest news, offers and special announcements.

%d bloggers like this: