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<p>In 2018, Venezuela  
experienced an annual inflation rate  
of 1,360,000 percent.  

This means that what was originally worth 10,000 won  
became worth approximately 130 million won after just one year.  

In effect, the currency lost all meaning.  

Nearly 90% of the population fell below the poverty line that year.  

This occurred in a country with the world’s largest proven oil reserves—  
not due to a lack of resources,  
but because the government resorted to printing money  
to cover its budget deficits.</p>

In 2018, Venezuela  
experienced an annual inflation rate  
of 1,360,000 percent.  
This means that what was originally worth 10,000 won  
became worth approximately 130 million won after just one year.  
In effect, the currency lost all meaning.  
Nearly 90% of the population fell below the poverty line that year.  
This occurred in a country with the world’s largest proven oil reserves—  
not due to a lack of resources,  
but because the government resorted to printing money  
to cover its bud

In 2018, Venezuela experienced an annual inflation rate of 1,360,000 percent. This means that what was originally worth 10,000 won became worth approximately 130 million won after just one year. In effect, the currency lost all meaning. Nearly 90% of the population fell below the poverty line that year. This occurred in a country with the world’s largest proven oil reserves— not due to a lack of resources, but because the government resorted to printing money to cover its budget deficits.

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