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Venezuela Has Gone Cashless (And That’s Not All)

Venezuela Has Gone Cashless (And That’s Not All)

Writing about the current situation in my country is becoming increasingly difficult. Just checking my personal chats with all the information I receive is heartbreaking. People I have known my entire life are having a very hard time and are being harassed.

Collecting information from friends and acquaintances has been very hard for me. Writing about it all without feeling the effect has proven to be very challenging. Keeping the cold shadow over my heart at bay when I talk with people is the reason for the delay in my writing.

One of the biggest pieces of news recently is that Venezuela has gone almost completely cashless. But that’s not all.

What happened to the reported economic recovery?

Disinformation. That is what happened.

National cash is gone. Electronic is the only currency accepted. Some exceptions are made in border cities, like San Cristobal. USD or Colombian Pesos are accepted there.

Gini Coefficient is used to measure inequality. Ranging from (1) 0% to (1) 100%: a higher Gini coefficient means greater inequality. According to Gini, Venezuela is around 39. One of the lowest in the region, with a trend towards equity.

This is absolutely laughable.

Why? Two factors. The first one being the absence of reliable data on Venezuela. The World Bank estimates, due to lack of information, the economic chaos, and total absence of transparency, it is quite difficult to trace the data. Even if some data is found, it’s going to be very hard to verify it and can’t be trusted. The latest national survey on living conditions (Encovi) indicates this coefficient at 51, which would rank it as the most unequal in Latin America after Brazil.

What about the cost of essential items?

These are a few of the most recent food prices. Amidst crisis, chaos and a pandemic they have remained relatively the same.

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