Mr. Maduro says his government has ended income inequality.
Really? After the recent devaluation, the real value of the minimum wage in
Venezuela plummeted to $63 a month, which corresponds to the average poverty
line in developing countries as determined by the World Bank. Moreover, Cendas,
a respected research institute based in Caracas, has concluded that each
Venezuelan now needs four minimum wages to make ends meet — all this in the
midst of an oil bonanza. More…
Friday, April 4, 2014
Who Takes the Blame for Venezuela’s Crisis?
Mr. Maduro says his government has ended income inequality.
Really? After the recent devaluation, the real value of the minimum wage in
Venezuela plummeted to $63 a month, which corresponds to the average poverty
line in developing countries as determined by the World Bank. Moreover, Cendas,
a respected research institute based in Caracas, has concluded that each
Venezuelan now needs four minimum wages to make ends meet — all this in the
midst of an oil bonanza. More…
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