The bottom has fallen out of the
Venezuelan economy. On the one hand, international reserves fell to $17.93
billion through May 14, their lowest level since September 5 2003. And on the
other, shortages of food, medicines, auto parts, home appliances and other
products have reached critical levels. For example, with regard to food items,
it is reported that atleast 18 of the 58 products (31.0%) that make up the food
basket of the Cendas-FVM index are experiencing scarcity problems. In
consequence, the population is forced to spend an average of two to five hours
a week queuing in various establishments trying to find basic food supplies.
Not to mention that people have to overcome a series of hurdles in order to
have access to the much-needed goods, among others: More… 
Friday, May 22, 2015
Venezuela's Economy is Collapsing
The bottom has fallen out of the
Venezuelan economy. On the one hand, international reserves fell to $17.93
billion through May 14, their lowest level since September 5 2003. And on the
other, shortages of food, medicines, auto parts, home appliances and other
products have reached critical levels. For example, with regard to food items,
it is reported that atleast 18 of the 58 products (31.0%) that make up the food
basket of the Cendas-FVM index are experiencing scarcity problems. In
consequence, the population is forced to spend an average of two to five hours
a week queuing in various establishments trying to find basic food supplies.
Not to mention that people have to overcome a series of hurdles in order to
have access to the much-needed goods, among others: More… 
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