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Immigrants from Venezuela

Just read that the national oil company, PDVSA, did not make an interest payment of over $400,000,000 on 11/22/16,.  They do have a 30 day window, and supposedly some debt restructuring will free up more cash for interest payments.  Since 95% of Venezuela exports are gas and oil, a default would cause chaos.  I was wondering if anyone on the ground in Ecuador has seen any increase in expats coming from Venezuela.   In 2015 it seemed like a high percentage of new members of the forum were from Venezuela.  It would appear that anyone with a Venezuela passport could come to Ecuador very easily.

I haven’t seen them personally.

Last year, as you alluded, there was a tremendous increase in new members on the Ecuador sites of expat.com -- especially noticeable on the Spanish-language EC site.  They wanted out of Venezuela .. and fast.

However, many of these good folks did not have a clue how to get permanent residency in Ecuador, which -- for working-age Venezuelans and other such extranjeros -- typically requires a job-offer/official contract.

Back in the day, there was closeness between the two countries’ presidentes, but since Hugo Chavez’s death, things have been downhill for Venezuela.  With the possible exception of Spanish-language medical personnel and a small percentage of Vens with Ecuador job contracts, it seems unlikely that immigration here is a solution for the preponderance of those seeking to flee permanently from “the South American country where it’s all gone wrong.”

cccmedia in Quito

I’ve remember reading an article with statistics that stated that almost all or about 98% of arriving Venezuelans depart from Ecuador. Another piece stated that of those that remain about 75% are skilled individuals with job contracts. So, what ccc wrote correlates with that info, in that they arrive find it difficult to find a job and residency, and eventually move on. From a personal perspective, I know a few, two I met recently who live on my street, and work here legally, friendly people. Another one I’m limiting communication with because it always leads to her complaining about earning less than the básico. She doesn't have a college degree, doesn't have a work visa, and what does she or other people in her situation expect. So she'll probably join the others and eventually move on as well.

Venezuela’s Currency Just Had the Biggest Monthly Collapse Ever

The ‘strong bolivar’ has lost 45% of its value this month

https://www.bloomberg.com/news/articles … lapse-ever



Venezuela Currency Loses 45% This Month as Hyperinflation Escalates
The Venezuelan bolivar lost 45% of its value against the US dollar so far this month, the biggest monthly decline ever.

Officially it takes 10 bolivars to buy a US dollar. On the black market it takes 2,753 bolivars to buy a US dollar.

The bolivar is all but worthless. This is the classic definition of hyperinflation.

https://mishtalk.com/2016/11/24/venezue … escalates/


:(

gardener1 :

Venezuela’s Currency Just Had the Biggest Monthly Collapse Ever

The ‘strong bolivar’ has lost 45% of its value this month

https://www.bloomberg.com/news/articles … lapse-ever



Venezuela Currency Loses 45% This Month as Hyperinflation Escalates
The Venezuelan bolivar lost 45% of its value against the US dollar so far this month, the biggest monthly decline ever.

Officially it takes 10 bolivars to buy a US dollar. On the black market it takes 2,753 bolivars to buy a US dollar.

The bolivar is all but worthless. This is the classic definition of hyperinflation.

https://mishtalk.com/2016/11/24/venezue … escalates/


:(

Scary stuff, sounds like Germany during the depression, takes a bag of money to buy a bag of food.  This can't end well, 400% inflation for the year.

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