Many multinational companies found in office buildings and construction sites in Caracas a nice place to park their bolivars and construction companies borrowed to meet that demand. Now the music stopped, banks are not giving money away anymore and those companies now own empty, useless office space.
Even though middle-class Caraqueños tried to protect their savings with residential real estate, their year-to-year value dropped dramatically in 2017, leaving them helpless against inflation.
We’ve been able to hang on for 22 years in one of the craziest media landscapes in the world. We’ve seen different media outlets in Venezuela (and abroad) closing shop, something we’re looking to avoid at all costs. Your collaboration goes a long way in helping us weather the storm.
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