Venezuela's Elites are Wrong: Why It Needs the US Dollar
Many of the business elites in Venezuela worry that replacing the bolivar with the US dollar would remove Venezuela’s ability to devalue its domestic currency against the dollar, and that the inability would make Venezuela uncompetitive. The elites’ worries are unfounded. But many believe that a country can devalue its way to prosperity, because the The post Venezuela's Elites are Wrong: Why It Needs the US Dollar appeared first on BeInCrypto.
Key Takeaways
- Many of the business elites in Venezuela worry that replacing the bolivar with the US dollar would remove Venezuela’s ability to devalue its domestic currency against the dollar, and that the inability would make Venezuela uncompetitive.
- The elites’ worries are unfounded.
- But many believe that a country can devalue its way to prosperity, because the The post Venezuela's Elites are Wrong: Why It Needs the US Dollar appeared first on BeInCrypto.
Summary generated by IndiCrypto from BeInCrypto. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
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