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Articles on Resource curse

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Guyana, a former British colony on the north shore of South America, may soon supplant Trinidad and Tobago as the Caribbean region’s biggest oil producer. Reuters/Andrea De Silva

Guyana, one of South America’s poorest countries, struck oil. Will it go boom or bust?

Guyana is on the verge of an oil bonanza that could bring in US$1 million a day. But if it’s not careful, this poor nation – population 750,000 – could fall prey to the dreaded ‘resource curse.’
Inflation reached 800% in Venezuela. Here, a banknote featuring president Nicolas Maduro’s face has been stamped as ‘devalued’. Jorge Silva/Reuters

Inside Venezuela’s economic collapse

How is a country that was once South America’s richest now on the verge of bankruptcy? A Venezuelan economist breaks down his country’s descent into chaos.

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