Hard to Swallow, AFP: Burgers Don't Cost $170 in Venezuela!

[Judi Lynn]

Hard to Swallow, AFP: Burgers Don't Cost $170 in Venezuela!
Published 25 May 2016

Currency manipulation by right-wing Venezuelans is partially to blame for the runaway inflation that Venezuelans now have to live with.


The French News Agency AFP inaccurately reported on Tuesday that the price of hamburgers in Venezuela had reached US$170 due to hyperinflation.

“A hamburger sold for 1,700 Venezuelan bolivares is US$170, or a 69,000-bolivar hotel room is $6,900 a night, based on the official rate of 10 bolivares for US$1,” the AFP have previously reported.

The country's current official exchange rate is about 370 bs per dollar, which means the burger would only cost US$4, but most people, especially tourists, resort to the black market, where they can get over 1,000 bs per dollar. This means a burger actually costs US$1.70, an extremely far cry from the US$170 AFP was claiming.

The article, which was eventually removed from their website due to errors in the exchange rate, was republished by several conservative news outlets in efforts depict Venezuela as a country on the verge of political and economic collapse.

More:
http://www.telesurtv.net/english/news/Hard-to-Swallow-AFP-Burgers-Dont-Cost-170-in-Venezuela-20160525-0031.html

Sad, isn't it?

[Jackie Wilson Said]

1. Why am I not surprised to see the problem is related to right wingers.

[MADem]

2. No matter what a burger (if you can find the ingredients) costs in VZ,

the country IS on the verge of economic and political collapse.

That's not a matter for dispute, really.

[Bacchus4.0]

3. Venezuela minimum wage is 15,050 Bs per month, about 9 burgers

http://www.reuters.com/article/us-venezuela-economy-idUSKCN0XS0RD

[MADem]

4. That poor nation needs help--so many natural resources, so much mismanagement. nt