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RE: The honeymoon month...

in #africa6 years ago

we are experiencing rapid inflation in Liberia due partially to the falling prices of Iron ore and rubber, the primary commodities exported from the country

Fascinating to hear about the recent inflation! Keep us up to date, as there's not much insider perspective on Liberia's recent inflation online. It appears that Liberia has had high inflation for a while, but the recent inflation does seem higher than usual.

Getting to experience hyperinflation would be a very valuable experience! I've been closely following the crisis in Venezuela (check out the two Let's Talk Bitcoin segments in my post). Liberia is still far away from Venezuela's level of hyperinflation, but there are commonalities, like that both sound like natural resource economies in terms of exports.

A small group of Venezuelans is combating the financial repression of inflation, caused by bad governance, by using cryptocurrency. While cryptocurrency prices are extremely volatile by dollar standards, their volatility is nothing compared to the bolívar fuerte (which is volatile in only the wrong direction).

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Indeed, Liberia's inflation has been high for quite some time. It is interesting to see the cited articles number for unemployment and recognition of uncertainty. Estimates in-country from relief workers and Liberians is around 75% unemployment. May the bolívar fuerte wane away here in Liberia!

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