The worst managed country in the world

What’s more, it’s sitting on a treasure trove of black gold, with oil reserves that should make it one of the richest countries in the world. So why does Venezuela have a terrifying reputation for danger and corruption, an overcrowded capital filled with slums, and healthcare so poor there are queues down the street to buy painkillers? In his fascinating BBC series Simon Reeve’s Caribbean, currently showing on SBS, the presenter delves deep into the dirty reality of life in one of the world’s most magnificent regions. Venezuela has the largest proven oil reserves in the world and has earned more than a trillion dollars from oil in the past 20 years. Socialist president Hugo Chavez, who led the country until his death in 2013, vowed to use the oil money to help the poor, but years of what Reeve calls “gobsmacking economic mismanagement” has left one in three Venezuelans living in poverty. More…