Economic Situation • Foreign trade The United States supplies more than one-third of Venezuela's food imports. Recent government import policies have led to a shortage of goods throughout the country. During the crisis in Bolivarian Venezuela, Maduro decided to purchase hundreds of military vehicles to be used against large waves of protests instead of purchasing goods for Venezuelans, allocating only 15% of the necessary amount of funds to buy goods for supermarkets. • International assistance In January 2015, Maduro toured...
4 Pages
1826 Words
Around 9.3 million Venezuelans, 32% of the total population, are food insecure and are in need of assistance. Of these, 2.3 million are considered severely food insecure and 7 million are moderately food insecure. The majority of Venezuelans (60 percent) are marginally food secure, meaning they have acceptable food consumption, although, over ⅔ of the population engage within hunger-coping strategies and 98% are unable to afford many essential food items. The causes of Venezuela’s food crisis are commonly divided into...
4 Pages
1582 Words
The crisis in Venezuela began when Hugo Chavez was elected to power in 1998. His socialist government put into effect a plan to provide services and goods to the people of Venezuela. However, after years of not managing the economy properly while Chavez was in power, he brought Venezuela closer to oil exports altogether. This later caused a huge drop in global oil prices in 2014, leading to a rapid downturn in the economy. Chavez died in 2013, so Vice...
1 Page
658 Words
“It is worse than it sounds and it sounds extremely bad”, - one reporter said about the situation in Venezuela. Turmoil has brought an oil rich country to its knees, starting hyperinflation, when the economy is monetary inflation occurring at a very high rate, according to Oxford. Projected to hit 10 million percent by 2020, Venezuela is deep into a crisis. Hyperinflation has caused 90 percent of the Venezuelan population to be classed in poverty. Columbia (a neighboring country) is...
3 Pages
1443 Words
The economic growth of a country is the increase in the market value of the goods and services produced by an economy over time but varies from country to country. One thing that is considered when measuring a country's economic growth is the government and how policies are implemented, and where they stand when it comes to the free market. Another factor is its natural resources that come from the land, including but not limited to, agricultural, natural gas, oil,...
2 Pages
791 Words
Get a unique paper that meets your instructions
800+ verified writers
can handle your paper.
Place order
“Corruption, bad policies, poor governance, and lack of development that generate the threat in the first place” (Kilcullen 2009, p. 289) perfectly describes Venezuela’s current state; a country once rich and prosperous to one now riddled with corruption and violence. Its political and economic descent in the last century and its transition to a more socialist move has caused instability across the country, sparking years of protest and more recently, the emergence of Venezuela’s insurgent president, Juan Guaido. Venezuela’s ruthless...
5 Pages
2152 Words
All Latin America political systems are presidential, which sometimes can mean this huge power can be exercised by one person, if unchecked can bring a huge problem to the country. This essay will be describing the transition and consolidation of Venezuela and Brazil, which happens to be in South America, also known as Latin America. To do so, this essay will rely on Samuel P. Huntington third wave transition and how the elite influences the transition and consolidation. The two...
1 Page
590 Words
Venezuela was once the wealthiest country in Latin America and one of the leading exporters of oil. Today, Venezuela has the highest inflation rate worldwide and is suffering from political dysphoria. To fully understand the present situation, one must begin with Hugo Chávez’s presidency. Chávez reduced economic inequality and funded many social programs by taking advantage of the surge of oil prices in 2014. He used the economic boom to spend billions in favor of the poor, the demographic keeping...
2 Pages
1085 Words
