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Marisol Vives, Venezuela, ESOL Integrated Skills III

One of the great problems in Venezuela is its economic depression. “Great Venezuela economic depression” refers to the deterioration that began to be noticed in the main macroeconomic indicators, and whose consequences have extended in time to the present. The beginning of the economic crisis brought about the explosion of different factors: the financial crisis, lack of food and medicines, closure of private companies, inflation (for individuals and companies); and finally the increase in unemployment, which resulted in the emergence of social movements.

According to Wikipedia, “Unemployment, which marked a historical low during mid-2012 with 890.000 people (7.82% of the active population), went on to register a record high in the first quarters of 2016 with more than 2.700.000 unemployed (18%); with youth unemployment (unemployed under 25 years) of more than 349.000 people ( 26.5%).”

I would change the currency in Venezuela to end the economic crisis. Dollarizing Venezuela is the best solution to end the country’s economic crisis. Several specialists in the economic field agree that dollarization of the Venezuelan economy would offer a way out of the crisis in the country. The main benefit would be a decrease in inflation and an increase in investment in the country.