These days, Venezuela is in the international headlines
almost daily: food shortages, spreading hunger, people dying for lack of
medicine, and soaring homicide rates. Citizens demonstrate their discontent in
the streets every day with blood, sweat and tears, as Nicolás Maduro’s
increasingly unconstitutional regime clings to power. How is this possible,
economically speaking? How can an economy that was thriving until 2012 lose a
third of its GDP in five years and now be dangerously close to defaulting on
its foreign debt? This dizzying descent into insolvency has stirred up an
international ruckus, prompting the investment firm Goldman Sachs to –
controversially – buy up US$2.8 billion in bonds from Maduro’s cash-strapped
government. More…
No comments:
Post a Comment