Economics
Venezuela Unemployment Nears That of War-Ruined Bosnia, IMF Says
- IMF estimates joblessness at 44.3% in 2019, and 47.9% in 2020
- A 25% plunge in Venezuela 2019 GDP will drag on Latin America
This article is for subscribers only.
Venezuela’s unemployment rate is soaring to levels unseen in the world since the Bosnian war came to an end more than two decades ago, according to the International Monetary Fund.
Joblessness will reach 44.3 percent in 2019 and will slam nearly half of Venezuela’s labor force in 2020, the IMF said in its World Economic Outlook published on Tuesday. Bosnia and Herzegovina’s joblessness was 50 percent in 1996, immediately after its 3 1/2-year domestic war, according to the multilateral’s database.