How Venezuela is dealing with the pandemic with the highest hyperinflation in the world

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Venezuela has implemented a large number of economic measures recently announced by the national executive such as, economic aid packages to face the pandemic to small and medium enterprises, that they do not pay taxes in the commercial registry, extended the labor immobility, the prohibition to execute evictions to merchants and families, among others, which serve to support entrepreneurs who still have investments in the national territory and small producers in the country whose businesses are the most affected in this situation.

Both Venezuela and the entire world have a large number of measures to support the economy of their countries, because they have understood that the productive sectors are affected due to the pandemic, and in order to ensure that they do not go bankrupt while this situation is going on, it is necessary to seek mechanisms to support companies to ensure their future operations.

In spite of the fact that in Venezuela the support route is positive, that the philosophy that companies have some tax exemptions so that they can survive; Venezuela's strategy is poor compared to what the world is using, for example the United States, which finances the productive apparatus with billions of dollars, or in Europe where the State is in charge of the payroll of most companies. It is true that Venezuela does not have the resources of those developed countries to be able to sustain such a sophisticated and strong support plan comparable to Germany or any other country of the European Union, but there are many measures that have not yet been thoroughly analyzed, such as the cash flow problem of the companies that will be affected by the measures adopted.

On the other hand, Venezuela is currently in a 7 by 7 system, 7 days of preventive isolation and 7 days of quarantine relaxation, which poses a great debate between the national economy and the health of the population, which is not only an internal debate in Venezuela but also in the whole world, being a hot topic since no position is completely right. In addition to this, the country is currently entering a critical phase in terms of the number of active cases of COVID19 , cases that had not been seen in the past in the national territory, while other European countries are already in their 4th wave of increase in the number of active cases, Venezuela has just presented its first massive wave of contagions, This had not happened before because the country was isolated from the world, with international isolation, little internal mobility, as well as the fact that the Chinese protocol of the use of masks was applied very quickly even much earlier than in other countries, these factors helped the penetration was not as fast as in other Latin American countries. However, today the situation is unstoppable, reaching its worst historical moment, even revealed by official figures.

So, to consider getting rid of the 7 by 7 at the worst moment of the pandemic is something complex, since every time the population is made more flexible to reopen businesses, the problem is amplified and the number of contagions increases, but it is also true that maintaining the quarantine in a country like Venezuela whose economy is already battered, would destroy the entire productive apparatus, and the people would not only be facing the problem of the pandemic but also the famine that would be unleashed, especially in the people who live from their daily work, who are paid by the hour or by the day and do not have social benefits or social security, being these the majority population of the country.

To conclude, Venezuela is going through a historic moment like all countries in the world, but unlike other nations, this one had already been dragging a hyperinflation since 2017, which has been exacerbated by the global pandemic, so the national government has to pay special attention to the management of economic measures and how these will affect the country's productive apparatus, since a mismanagement of the situation could further aggravate the already deteriorated national economy.

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I live in one of these European contries, Austria, and I tell you, it is not very good at all. The government gives a lot of money, but mostly to people who are rather wealthy anyways (corruption). A 7 - 7 rule would be great here; we are in lockdown since months, anything but food stores are closed most of the times (there are variations in the lockdowns), restaurants are going bankrupt one after the other, middle class and poor people have to empty their saving accounts, travel is restricted and a umonitored experimental vaccination program is in full swing. Side effects are censored...

You are not allowed to go outside at night, and in many districts also not during the day. You can, but you always have to think of an excuse, which puts you at the mercy of any cop that might stop you.
Demonstrations are forbidden, and if they happen, brutal police force is applied.

Media has been payed loads of money, and independent journalism does not exist anymore. People (teachers, doctors, journalists...) loose their jobs if they speak up.

Prices are going up (food, rent, property), unemployment is shooting up, suicide rate too, and psychosis in children as well.

This all, while the actual pandemic is over. Now, this all is based on tests that are faulty quite often. Courts as well as the WHO) have already ruled against the restrictions and made it clear that the tests are no valid base, but politics simply ignore them. Which is unlawful, but nobody seems to care.

btw.: All the money the US and EU are giving away is freshly printed. In the long run this means inflation and debt for the future generations.

I am not saying that Venezuela is the place to be right now, but do not get blinded by the west always signaling that everything is awsome!

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