Venezuela was once the wealthiest country in Latin American. The country has the most significant oil reserves in the world. Its democratic government was hailed as one of the best across the globe.

But today, Venezuela's government is facing a crisis. The country is in shambles. Violence rules the streets. The economy is broken, rendering paper money useless.

In 2017, the country reached an inflation rate of 946%, the highest anywhere on Earth. The hyperinflation made food, medicine, and essential services inaccessible to the people.

The conditions sparked protests against President Nicolas Maduro, whose presidential term saw the country's economy collapse even further.

Economic Crisis


Over the last few years, Venezuela's economy collapsed, leaving infrastructures to crumble and many citizens impoverished.

The residents face daily blackouts, food shortages, limited medical services, and disease. Millions of Venezuelans were forced to leave the country in search of better living conditions, with many choosing to walk out on foot.

In 2019, the country's inflation rate rose from 9.02 percent to 10 million percent, meaning products that were once priced at one dollar now cost $10 million. A Venezuelan's monthly salary was not even enough to cover the cost of basic toiletries.

In 2018, experts estimated a roll of toilet paper cost 2.6 million bolivars---a time where the inflation rate was already at 1 million percent.

The country's current situation began after the late President Hugo Chavez spent billions on social welfare programs to help the poor. He subsidized food, improved the quality of education, and created a better, more accessible health care system. His programs reduced the poverty rate by half.

In a bid to keep his presidential seat, he spent more than the country's financial capacity, leading to a massive deficit that eventually forced the Venezuelan government to borrow money from other countries. 

After Chavez's death, oil prices fell. Maduro has since been unable to adjust to the circumstances. The poverty rate, which was once at 30%, now comprise 80% of Venezuela's total population.

Nicolas Maduro continued to exploit the economy for his benefit. In 2017, he set the official exchange rate to 10.1 bolivares per US dollar. However, the rate was only available to his allies. The general population turned to the black market to exchange currencies where 1 USD is equal to 12,163 bolivares.

The military forces took advantage of the crisis, buying food at the official exchange rate, and selling it at 120,000 percent higher.

Food Crisis
(Photo: Youtube)
Offcuts from Venezuela's wet markets

Many families eat one meal a day. The children are becoming extremely thin, with some experiencing growth defects due to chronic malnutrition. Kids who are aged 2 are as tall as a 10-month old. Those who are aged 8 seem like they're 5.

The government gives food handouts, but they are irregular and insufficient. Churches run food centers for the communities. Some 800 people visit the centers daily. To most visitors, the food from the centers will be their only meal for the day.

Supermarkets are nothing but empty shelves. The country, which once had high levels of obesity, is now in a desperate fight to fill their stomachs. Even Venezuelans with full-time jobs struggle to keep themselves fed.

Many wet market-goers resort to eating animal offcuts, including fat and tripes. In some cases, they buy rotten meat. A kilo of fresh beef, pork, or chicken can cost up to a third of the monthly minimum wage. Rotten meat costs one percent of a working person's salary. Stall owners face a daily issue as rolling blackouts prevent them from adequately storing fresh products, leading to spoiled, putrid meat.

Health Crisis
(Photo: Youtube)
Hospital wastes on Venezuela's streets

Hospitals and medical facilities aren't spared from Venezuela's economic crisis. Many beds are left derelict and broken. Without much support from the government or the necessary budget, the equipment is left damaged.

The crisis has also led to the collapse of a garbage removal system, leaving many medical wastes---including needles and drips---lying on the streets. For desperate families, they scour rubbish in a bid to find anything fulfilling.

Patients who visit hospitals are required to bring their food and medical supplies like syringes, scalpels, surgical gloves, and toiletries. Diseases that are preventable by vaccines are fast becoming a problem for the Venezuelan people. Thousands of pregnant women experience miscarriages and receive no prenatal care.

Dr. Alberto Paniz Mondolfi, a member of the Venezuelan National Academy of Medicine, said international assistance is needed to resolve the crisis.

"Do not leave us alone," he said. "There is no way in which Venezuela could come out of this on its own."

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