Venezuela may yet be saved from itself, courtesy of foreign support
Humanitarian concern alone is never enough to bring foreign intervention, but Venezuela’s crisis and the deep cynicism of Maduro’s government have done just that
Nearly 90% of Venezuelans now live in poverty. Inflation is projected to hit 10-million percent next year according to the International Monetary Fund (IMF); citizens already use literal wheelbarrows of money to purchase staples such bread and milk — when they’re lucky enough to find them on store shelves. Since 2015, more than 3-million people have fled the country. The world has watched with growing dismay as Venezuela — an economy once buoyed by the world’s largest proven oil reserves — has descended from prosperous nation to humanitarian catastrophe in less than a decade. And yet, for the first time since President Nicolás Maduro came to power in 2013, the political situation in Venezuela appears finally to have begun to shift. This alone would be cause for celebration, but we are also witnessing something fortuitous and unexpected. It goes well beyond people lashing out against horrendous living conditions or revolting against a repressive regime. That storyline has played out ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.