Venezuela’s Nadir

In the context of Latin America, Venezuela stands out like a great beacon,” declared Ken Livingstone in 2008 on being appointed an adviser to the late President Hugo Chávez’s regime. He was half right: in a continent of vast natural resources, Venezuela stands as a case apart. Despite having the largest proven oil reserves in the world, Venezuela under Chávez and his successor, Nicolás Maduro, is in a state of economic collapse. It is a tragedy for Venezuelan and a challenge for Latin America  than an strategically important state with 30 millions people is subsiding into chaos. More...