Saturday, January 18, 2025

Venezuela grapples with economic collapse

"The ongoing financial crisis — arguably the population’s greatest source of discontent — persists despite a modest reactivation of consumption. Crisis and political conflict remain
intertwined, and after a decade of catastrophic governance and escalating tensions between the ruling party and the opposition, the Maduro government now faces an especially turbulent period.

The evidence of electoral fraud, which Maduro has been unable to convincingly refute, have heightened international pressure.....the damage to Venezuela’s productive and social fabric had already been done. The socioeconomic collapse experienced between 2014 and 2020, during Maduro’s presidency, delivered a devastating blow to the nation’s economic framework. This trauma has left many Venezuelans struggling to fully recover from its far-reaching effects. Venezuela’s economy contracted by more than 80%. The local industrial sector was decimated, and now operates at just 30% of its capacity." MS

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