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IMF World Economic Outlook estimates 2018 inflation at about 1.37 million percent

On 9 October 2018 the IMF World Economic Outlook estimated Venezuelan consumer-price inflation at about 1,370,000 percent for 2018 and projected even higher figures for 2019. In the causal graph this event strengthens Inflationary Pressure, a driver that strengthens Global Consumer Price Inflation (annual %) — an improving welfare path.

IMF World Economic Outlook estimates 2018 inflation at about 1.37 million percent

Sources: [1][2]

Read the full account

On 9 October 2018 the IMF World Economic Outlook estimated Venezuelan consumer-price inflation at about 1,370,000 percent for 2018 and projected even higher figures for 2019. BCV had stopped a regular public CPI. It is labelled as an IMF estimate, not as a BCV board print, and not as a unique later poverty coefficient from that Tuesday.

Context

2016 leaked contraction sat as parent. Neighbouring 2018 reconversion is a neighbour monetary instrument. He did not sit as the IMF.

2016 GDP leak is the parent collapse. 2022 dollarization slowdown is a much later child print.

The President of Venezuela heads the national executive, commands FANB as commander-in-chief, appoints the cabinet, and can request enabling laws. He does not write an OFAC designation, an ICC Pre-Trial Chamber decision, or a Colombian migration statute. A CNE announcement is not an opposition acta and is not a Carter Center finding. Those three statuses stay on separate rows. An ICC investigation is not a conviction. An IMF figure is labelled as an estimate where BCV stopped publishing. Sanctions after 2017 and 2019 are an external causal factor; they do not erase the pre-2017 PDVSA-and-policy collapse.

Why it matters

The path is inflationary pressure and household purchasing power: a completed hyperinflation estimate after official CPI silence.

Who was responsible

Contribution type and responsibility level for each recorded actor — not sole-author shorthand.

  • Nicolás Maduro

    Person

    Direct responsibility

    responsibility level 0.75 · verified

    IMF estimated after BCV silence. He owned monetary financing and price-control policy. BCV and PDVSA share the parent collapse file.

What changed

Fact → Driver → Indicator. Relationship strength orders the paths; it is not the observed indicator movement.

Evidence

The sources behind this fact and its verification state.

Verified2 sources on file
  1. 1.Reuters — IMF sees Venezuela inflation at 1.37 million percent in 2018Reuters · High credibility · verified
  2. 2.IMF World Economic Outlook October 2018 — Venezuela inflation estimatesInternational Monetary Fund · High credibility · verified
What the sources establish

International Monetary Fund carries the official instrument or communique. Reuters records the same dated act independently.

Established: October 2018 IMF WEO inflation estimates for Venezuela, independently reported, labelled as estimates.

Not established: that BCV uniquely certified 1.37 million percent that day, or a unique later UNHCR coefficient from that Tuesday.

He owned monetary financing and price-control policy. BCV and PDVSA share the parent collapse file.. A later repeal, court stay, or successor order would be a different Fact with a different date. That pair identifies IMF World Economic Outlook estimates 2018 inflation at about 1.37 million percent, not a later speech about IMF World Economic Outlook estimates 2018 inflation at about 1.37 million percent.

Co-authors and later implementers named in Context remain on the file. If a later repeal, stay, or successor instrument exists, it needs its own date and its own row. The contribution described on this Person row is limited to IMF estimated after BCV silence. That limit is the alternative to treating office-holding as authorship of every later series.

Causal path

How this event connects to drivers and indicators in the graph.

  1. ActorNicolás Maduro
  2. contributed toFactIMF World Economic Outlook estimates 2018 inflation at about 1.37 million percent
  3. strengthensDrivers (2)Inflationary Pressure
  4. strengthensIndicatorGlobal Consumer Price Inflation (annual %)

Cite this page

Factrail. (2026). IMF World Economic Outlook estimates 2018 inflation at about 1.37 million percent. Factrail. https://factrail.ai/facts/ve-imf-2018

https://factrail.ai/facts/ve-imf-2018

Accessed 15 October 2026.

By the Factrail desk · Method: how we source and score · Last reviewed

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