Venezuela’s Economic Crisis

When you think of Venezuela, you may think of a beautiful place to vacation at. What you may not know is that right now, they are going through an Economic Crisis. Crisis in Venezuela has been occurring since 2010. What’s shocking is, I just found out about this last week.

According to CNN, this all started when former President Chavez chose President Nicolas Maduro to run after him. When Chavez died, President Maduro started making all the wrong decisions. Although, President Maduro isn’t making anything easier for Venezuelans, he is also not the complete cause of it. Former President Chavez decided that he wanted to cut ties with the U.S. and become a little closer with China and Russia. Both of these countries loaned Venezuela billions. President Maduro would rather give the little money they have left to pay them back, rather than buying food and medicine abroad.

In 2011, Venezuela had $30 billion. But as of July 2017, they only have 9.9 billion. Since Maduro would rather pay the debts they owe to China and Russia than help the sick and poor, deaths in hospitals have gone up like crazy. So many people are starving that according to a national poll, the average Venezuelan living in supreme poverty has lost 19 pounds in the last year. In the last year 756 women died during or not so long after childbirth. In 2016 nearly 11,500 infants died. People sick with Malaria has reached 240,000. A 76% growth since 2015.

As if not having food and medicine was enough, Venezuelans now have to shorten the amount of electricity and water they use due to droughts. Nearly two million Venezuelans have vacated the country since 1999, leaving only 30 million people left. Maduro is acting as if nothing is going on, posting videos on twitter saying that the streets are completely safe, but riots are causing fires in the streets as police try to control them just a few blocks away. In fact, on August 4th of this year, there was an attempted assassination on president Maduro. Many people still plan on fleeing Venezuela. According to research by The Guardian, 2 million people will have fled by the year 2020.

President Maduro plans on increasing the minimum wage in Venezuela by 6,000%. He calls this plan the visionary plan for recovery, growth and economic prosperity. Some believe this plan will work, but majority believe that there is no chance of this ever working.

This chaotic economic crisis has gone from losing money, to losing lives. President Maduro has caused so much hurt and heartache for his people. Hopefully they will receive the money and medicine necessary to fix this economic war.


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