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Things Are Never So Bad That They Can't Get Worse: Inside the Collapse of Venezuela was written by William Neuman, a correspondent of The New York Times. The book chronicles Neuman's experiences and reporting from his time spent in Venezuela between 2012 and 2019, with a particular focus on the 2019 Venezuelan blackouts.
It is the worst economic crisis in Venezuela's history, and the worst facing a country in peacetime since the mid-20th century. The crisis is often considered more severe than the Great Depression in the United States, the 1985–1994 Brazilian economic crisis, or the 2008–2009 hyperinflation in Zimbabwe. [5]
As of January 2019, the list had 200 people with a "close relationship and support for the Nicolás Maduro regime", but Krüger said the initial list could increase or decrease. [ 422 ] As the humanitarian crisis deepened and expanded, the Trump administration levied more serious economic sanctions against Venezuela. [ 419 ]
Venezuela became the eighth-most-important weapons importing country in 2011 according to the Russian Centre for the Analysis of the Arms Trade, surpassing Turkey and Pakistan. [164] As of 2012, Venezuela had about US$7.2 billion in debt for the purchase of weapons from Russia. [165]
The Wall Street Journal said in January 2019 that economists place the blame for Venezuela's economy shrinking by half on policies of the Maduro administration, "including widespread nationalizations, out-of-control spending that sparked inflation, price controls that led to shortages, and widespread graft and mismanagement". [278]
In 2015, Venezuela had over 100% inflation—the highest in the world and the highest in the country's history at that time. [36] According to independent sources, the rate increased to 80,000% at the end of 2018 [ 37 ] with Venezuela spiraling into hyperinflation [ 38 ] while the poverty rate was nearly 90 percent of the population. [ 39 ]
During the Spanish American wars of independence, the United States was officially neutral but permitted Spanish American agents to obtain weapons and supplies.With the reception of Manuel Torres in 1821, the Gran Colombia (present-day Panama, Colombia, Ecuador, northern Peru, Venezuela, western Guyana and northwest Brazil) became the first former Spanish colony recognized by the United States ...
The Province of Venezuela in 1656, by Sanson Nicolas. One of the first maps about Venezuela and near regions. 5 July 1811 (fragment), painting by Juan Lovera in 1811.. The history of Venezuela reflects events in areas of the Americas colonized by Spain starting 1502; amid resistance from indigenous peoples, led by Native caciques, such as Guaicaipuro and Tamanaco.