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المشهد العربي
Hanky urges Venezuela to use the dollar to control inflation
American economist Steve Hanke advised Venezuela to fully convert its economy to the dollar and cancel the local currency, the bolívar, in order to curb inflation, which reached 400%. He stressed that controlling inflation is the essential condition for price stability and rebuilding the economy, noting that this step would represent the biggest change in local currency systems since the launch of the euro in 1999. Last year, the bolívar's collapse by 78% against the dollar led the majority of consumers to rely on the dollar for their daily transactions.
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