Venezuela Confirms Recession, Highest Inflation in Americas

Venezuela confirmed Tuesday that it had entered a recession while inflation remained the highest in the Americas, and President Nicolas Maduro's socialist government blamed political foes for the dismal data. The Central Bank said GDP contracted in each of the first three quarters, by 4.8 percent, 4.9 percent and 2.3 percent. Twelve-month inflation reached 63.6 percent in November. Economists, banks and regional bodies have long forecast that the OPEC member would be the...

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