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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]
The 2024–2025 Venezuelan political crisis is the ongoing crisis in Venezuela that was aggravated after the 2024 Venezuelan presidential election results were announced. [ 1 ] [ 2 ] [ 3 ] The 2024 election was held to choose a president for a six-year term beginning on 10 January 2025.
An October 2020 report published by the Washington Office on Latin America (WOLA) by Venezuelan economist Luis Oliveros found that "while Venezuela's economic crisis began before the first U.S. sectoral sanctions were imposed in 2017, these measures 'directly contributed to its deep decline, and to the further deterioration of the quality of ...
There was censorship and media control during the Venezuelan presidential crisis between 2019 and January 2023.. A crisis concerning who was the legitimate president of Venezuela began on 10 January 2019, when the opposition-majority National Assembly declared that incumbent Nicolás Maduro's 2018 reelection was invalid and the body declared its president, Juan Guaidó, to be acting president ...
Maduro also blamed the United States government, businessman Elon Musk and the UN commissioner for human rights, Volker Türk, for wanting to "destabilize the country and take over Venezuela." [ 157 ] [ 158 ] Maduro and the government accuse the Venezuelan opposition, represented by María Corina Machado , of being "fascist and criminal" [ 159 ...
The 2024 Venezuelan blackouts were a series of interruptions to Venezuela's electrical service nationwide. The interruptions began on 27 August with a blackout that affected 12 states in the country at around 7:12 pm VET, [1] [2] lasting until service restorations began at approximately 8:30 pm. [3] On 30 August, another blackout was recorded that left more than 20 states in the country ...
During the crisis in Venezuela, the United States, the European Union, Canada, Mexico, Panama and Switzerland have applied individual sanctions against people associated with Maduro's administration, including government officials, members of the military and security forces, and private individuals alleged to be involved in human rights abuses ...
Venezuela exports rice, corn, fish, tropical fruit, coffee, pork and beef. Venezuela has an estimated US$14.3 trillion worth [28] of natural resources and is not self-sufficient in most areas of agriculture. Exports accounted for 16.7% of GDP and petroleum products accounted for about 95% of those exports. [29]