Fruit of Sa'adah

How US sanctions destroy Venezuela’s economy and benefit dollarization

Using US currency for transactions is common in Venezuela, as people don’t trust the volatile local currency, according to Guevara. “There has been a factual dollarization of the Venezuelan economy,”

Last year, consumer prices in Venezuela were more than four times as high as a year earlier,

As always, corporate media does not mention US sanctions and their detrimental impact on Venezuela’s economy.

Gaby Oraa/Reuters
A customer pays for her purchase with U.S. dollar banknotes in an open-air fruit and vegetable market in Caracas, Venezuela February 10, 2023.

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