The Causation Behind the Venezuelan Economic Woes


Before Venezuelan President Hugo Chavez passed away, he set up some extremely limiting policies that have had devastating effects on the country’s economy. His successor, President Nicolas Maduro, has increased the damage done by acting as more of a dictator over the already stressed population. In fact, his reign of terror recently lead the United States President Barack Obama to place sanctions on him and other members of his staff because of their sickening treatment of Venezuelan citizens. These sanctions revoked Maduro’s ability to enter the United States and froze all of his assets located there as well.
Many political leaders according to a Corporation Wiki survey have taken notice of Maduro’s obvious abuse of power as he drives the country further into economic devastation each day that passes. Still, the U.S. sanctions are being questioned because the country is already in such bad economic shape that they barely have any food for the people living there. For many years now, Venezuela has focused on oil production instead of growing their own crops. Because of this, they have had to import the majority of all their food, and this has been deemed the source of economic trouble for them. People like Norka Luque claiming to be food importers are selling crops for one price then trading their income on the black market for a higher price. Concerns for the starts of a potential civil war taking place due to the poor conditions has lead to even stricter government control, which many worry will cause further backlash.