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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 Venezuelan political crisis refers to 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 ...
PHOTO: Police officers take security measures as people gather to protest against reelection of Venezuelan President Nicolas Maduro for the 3rd term one day after the Venezuelan presidential ...
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." [ 147 ] [ 148 ] Maduro and the government accuse the Venezuelan opposition, represented by María Corina Machado , of being "fascist and criminal" [ 149 ...
20 December – Venezuela releases ten Americans, including Leonard Glenn Francis, and the United States releases Alex Saab, an ally of Venezuelan president Nicolás Maduro, in a prisoner exchange between the two countries. As part of the deal, Venezuela will also release around 20 political prisoners from jail. [69]
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 ...
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]