Venezuela’s major crises will continue in
2017. These include ongoing economic instability, over-reliance on the price of
oil, shortages of food and electricity and increasing inequality. At the core
is a history of political interference in the functions of economic and
government and institutions. Since Nicolás Maduro became President in 2013
following the death of socialist leader Hugo Chávez, Venezuela’s dependence on
oil exports has brought its economy to the brink of bankruptcy. Almost 95% of
government revenue comes from oil exports. More…
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