Venezuela Currency Collapse (2016-2021)
U.S. sanctions on oil exports (Venezuela's primary revenue source) combined with government mismanagement triggered hyperinflation exceeding 1,000,000% in 2018. The bolivar became worthless—prices doubled every 19 days at the peak—forcing citizens into black markets and dollar transactions. The regime printed money rather than reform, accelerating the spiral.
Currency abandoned; economy dollarized informally. GDP contracted 75% from 2013-2020.
Maduro regime survived through repression despite economic devastation. Millions fled; poverty reached 94%.
Iran's trajectory mirrors Venezuela: oil sanctions, currency collapse, inflation approaching hyperinflation thresholds. Shows autocracies can survive economic implosion through coercion, but at enormous human cost.
