Venezuela is likely going further into a deep economic hole where it could remain until the middle of the next decade
down from almost 3 million five years ago in early 2014, according to data from Trading Economics.
The report continues:"It took the median FSU state 12 years to achieve pre-crisis real GDP levels and significantly more in some cases." If Venezuela follows the same economic path as the former communist countries of eastern Europe, then it could take until 2025 to recover to where it was in 2013. That was the year before Venezuela's economy began to collapse.
IIF says fixing the hyperinflation will likely be the easier of the two matters. Stabilizing the currency could be fixed by pegging the Venezuelan Bolivar to the U.S. dollar. Similar such strategies have helped other countries end periods of hyperinflation with relative speed."Although hyperinflation has set in, historical experience suggests it could end relatively fast under stabilization policies," the IIF report says.
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