Crisis in Venezuela
Socioeconomic and political conjuncture in 21st century Venezuela
Crisis in Venezuela
An ongoing socioeconomic and political crisis began in Venezuela during the presidencies of Hugo Chávez, Nicolás Maduro and Delcy Rodríguez. It has been marked by hyperinflation, starvation, disease, crime, and mortality rates, resulting in massive emigration. Food shortages and hyperinflation have ended, but inflation remains high. It is the worst economic crisis in Venezuela's history and considered by some sources as more severe than the Great Depression in the United States, the 1985–1994 Brazilian economic crisis, or the 2008–2009 hyperinflation in Zimbabwe. In 2019, the Institute of International Finance called it the single largest economic collapse outside of war in 45 years. Writers have compared aspects, such as unemployment and GDP contraction, to Bosnia and Herzegovina after the 1992–95 Bosnian War, and those in Russia, Cuba and Albania following the Revolutions of 1989. In 2010, Chávez declared an "economic war" due to increasing shortages in Venezuela. The crisis intensified...
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