Tight credit, high inflation push Venezuelans to layaway purchases streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
Some retailers in Venezuela are turning to old-fashioned layaway purchase offers to help customers buy everything from home appliances to shoes and motorcycles, as sky-high inflation and tight credit restrictions cut off other avenues for shopping. Though the government of President Nicolas Maduro relaxed currency controls in 2019, leading to a slight recovery for the crisis-hit country, this year the highest price growth in Latin America, shrinking wages and falling consumption have again battered the economy. Layaway, where customers pay an initial deposit to reserve a product and then pay the balance in installments, has become a strategy for businesses looking to increase sales, a dozen retailers, business guild presidents and analysts said.
Tight credit, high inflation push Venezuelans to layaway purchases reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
By Vivian Sequera and Mayela Armas CARACAS (Reuters) - Venezuelans head to the polls on Sunday in local and regional elections which represent a major challenge for electoral authorities and opposition politicians alike, as the latter return to compete for votes against the government of President Nicolas Maduro for the first time in four years.
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