Venezuela’s economy contracted 22.5 percent in the third quarter of 2018, as compared to the same period a year earlier, the central bank reported on its website in May. Inflation in the South American country reached 130,060 percent last year, according to the figures. It is the central bank’s first official update of economic indicators in more than three years. Why is the Venezuelan government publishing its data now, and are the numbers credible and accurate? Do the figures say anything new about the country’s dire economic situation? What would a recovery plan for the Venezuelan economy look like, and what roles could multilateral organizations such as the International Monetary Fund play in such a scenario?
Today’s edition of the Dialogue’s daily Latin America Advisor features commentary from Asdrúbal Oliveros, Guillermo Arcay, Robert Bottome and Pedro M. Burelli.