U.S. tire company Goodyear announced it will no longer continue production in Venezuela as economic conditions in the South American nation continue to deteriorate. (Juan Carlos Hernandez/Associated Press)VALENCIA, Venezuela — Goodyear Tire & Rubber Co. is halting production in Venezuela, making it the latest international corporation to abandon a South American nation in economic crisis, officials said Monday. “Our goal had been to maintain its operations, but economic conditions and U.S. sanctions have made this impossible,” Arguelles said. Goodyear’s retreat from Venezuela adds it to a growing list of corporations that have ceased operations in the country. The International Monetary Fund has estimated that inflation in Venezuela could top 1 million percent by the year’s end.

Source: Washington Post December 10, 2018 16:25 UTC