Venezuela Crisis

Country Profile
Population 31.5 million
Languages Spanish
Indigenous
Currency Bolivar
President Nicolas Maduro
GDP (2016) 236,11billion U$
(95% oil)
Regime type Socialist
Dictatorship
Biggest proven oil reserve in the world
 Background
1998 – President Hugo Chavez elected democratically (56,2%)
- Chavez launches Bolivarian Revolution (Social changes)
2005 – Chavez signs decree on Land Reforms
2006 – Arms deal with Russia 3 bi $
2007 – Full nationalization of the Country
2013 – Chavez Dies, Nicolas Maduro assumes Presidency (indirect vote)
2014 – Maduro approves mass production of currency to counter the
Oil prices decline
 Crisis
 Since 2015, almost 2 million people fled (Brazil, US, Spain, Chile)
 In 2018 5,000 people are leaving daily
 Inflation 1,000,000% ( Prices double each 26 days)
 240 deaths in riots
 Shortages of food and Basic Supply
 Soaring violent crime
 Sovereign Bolivar (Slashing Five zeros from the Currency)