Saturday, April 30, 2016

Now, Venezuela is Running Out of Beer

Hyper-inflation combined with price controls  and foreign exchange controls  is wrecking Venezuela.

Empresas Polar, Venezuela's largest private company, has now shuttered its breweries, saying it is unable to pay for imported grains under the government's strict exchange controls, which govern access to dollars.

And, though, in the grand scheme of things, shutting down government work isn't all bad, it should be noted that this week the government cut public sector employees' work week to a mere two days in efforts to cut down electricity use.


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