IMF Sees Venezuela Cratering With Another Double-Digit GDP Dive
- Revised outlook for 2017 is worse than all economist estimates
- ‘Venezuela’s humanitarian crisis could spin out of control’
BlackRock's Bisat Sees Perfect Storm in Venezuela Bonds
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Venezuela’s economy is on track toward its second consecutive year of double-digit contraction as political crisis torpedoes activity and ordinary Venezuelans suffer runaway inflation, according to a report from the International Monetary Fund.
The IMF forecasts Venezuela’s gross domestic product will plunge 12 percent this year, down from a 7.4 percent tumble the multilateral lender forecast just three months ago. The fund’s revised outlook for the Andean nation is worse than all estimates of economists surveyed by Bloomberg, and follows a dismal 2016 when the IMF estimates GDP shrank 18 percent.