There is a crisis in Venezuela. Already one of the most violent places on Earth — a person is murdered every 21 minutes, and there were roughly 24,700 violent deaths last year — the country is in the throes of a massive shake-up.
For the past few months, Leopold López has led an opposition movement against President Nicolas Maduro's government, which has been running the country into the ground. Since taking over for the deceased Hugo Chávez in April 2013, Maduro has led Venezuela to 56% inflation rate and a 50% increase in the budget deficit, prompting China to cut back on its $20 billion loan, and Moody's and Standard & Poor to downgrade Venezuelan bonds to "junk" status. Additionally, the once-strong dollar has dropped from an 8 to 1 exchange rate relative to the U.S. dollar at Chávez's death, to a disastrous 87 to 1. In response, Maduro has taken to blaming U.S.-backed "fascists" and the "parasitic bourgeoisie." He has also called for more state intervention. This has only made things harder for the private sector, which has since made it nearly impossible for Venezuelans to get food and other basic material necessities.
Join us on our
Share this page with your friends
on your favorite social network: