THE ECONOMIC situation in Venezuela has
been rapidly deteriorating for over three years now, and Venezuela appears to
be in a worse situation than ever before, as President Nicolas Maduro seems
unable to avert social collapse, while battling to keep Petróleos de Venezuela
SA (PDVSA) and its oil exports afloat. It is reported that inflation hit 800%
at the end of 2016 and that the economy contracted by a staggering 19% on
average in 2016. Shortages in food and basic medicine are now facts of life for
most Venezuelans. More…
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