Venezuela Prints Money at Fastest Pace Ever in Sign of Panic

Venezuelan money supply rose 31 percent in the week through Jan. 25, according to central bank data.

That’s the fastest expansion since at least 1997 and could indicate that a panicked government has boosted spending in the face of protests, sanctions and the withdrawal of recognition by a big chunk of the international community.

Money-printing has been the driver behind Venezuela’s hyperinflation and the collapse of its currency. On this evidence, the recent strength in the black-market bolivar is illusory.