Venezuela’s hyperinflation has been caused by an inept public policy of printing more money and private individuals making the most of differences between official and unofficial exchange rates.
When an elected leader turns autocratic, the economy tends to suffer. That’s because, in a functioning democracy, economic policy is made jointly, with lawmakers playing a key role.
A coup seems so imminent in Venezuela that people are debating whether Maduro’s overthrow would be good or bad for Venezuelan democracy. But history suggests a coup may be less likely than it seems.
The rankings in Transparency International’s 2018 index shows that highly democratic countries tend to have low levels of corruption. Is there something inherent in corruption that can kill democracy?
Canada has been considered a human rights champion when it comes to accepting Syrian refugees. So why is it doing next to nothing for those fleeing Venezuela?
At least a dozen countries are supporting the Venezuelan opposition lawmaker Juan Guaidó, who has declared himself Venezuela’s legitimate leader while President Maduro rejects calls to resign.
Maduro, who was sworn in for his second term on Jan. 10, has rigged elections, jailed rivals and plunged Venezuela into crisis. But Trump’s proposed ‘military option’ to remove him remains unpopular.
The success or failure of Mexico’s new president will have an impact on politics in the rest of Latin America as right-wing forces reclaim power. Is a brighter future for the region possible?
Trump has called Venezuela a ‘human tragedy’ and threatened invasion while quietly deporting and denying asylum to Venezuelan refugees. His anti-socialist rhetoric may make for good midterm politics.
Robert Muggah, Pontifícia Universidade Católica do Rio de Janeiro (PUC-Rio)
Up to 5,000 refugees flee hunger and chaos in Venezuela each day – a migrant crisis rivaling Syria’s. Most arrive to poor South American border cities that are dangerously unprepared for the influx.
Venezuela recently devalued its bolivar by 95 percent to tame rabid hyperinflation that has been sending prices on everyday goods through the roof. If history is a guide, it won’t work.
Cheap Venezuelan oil boosted Nicaragua’s economy and funded President Daniel Ortega’s many anti-poverty programs. With Venezuela in crisis, the oil has dried up – as has support for Ortega’s regime.
How long can a rogue regime survive assassination attempts, sanctions, bankruptcy, humanitarian crisis and mass unrest? When it comes to Venezuela, President Maduro may cling to power for some time.
Visiting Scholar, Weatherhead Center for International Affairs, Harvard University; Director of Studies at the Changing Character of War Centre, and Senior Research Fellow, Dept. of Politics and International Relations, University of Oxford