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Hugo Chavez And Venezuela's Worst Crisis

1017 Words5 Pages

Nowadays, Venezuela has experienced one of the biggest and the worst crisis. Hugo Chavez and Nicolas Maduro led the country to such political and economic situation. Venezuela has such major economic problems that complicate the development of the country: the minimum wage is not cover even the basic people` needs; country doesn’t have enough currency to buy a product; the medicines` deliveries decreased; many manufacturers are not working because of the lack of raw materials; to buy the most necessary products, people should stand every day in the long lines; also, every day, in country, there is many protest action against the Venezuela government.
Hugo Chaves is a legendary figure in Venezuela, who nationalized industries and spend a huge amount of money into social programsб, but he drove the country into the debt pit. After the Chavez death, the Nicolas Maduro became the president in 2013. In a few months later, the price collapse happened because of the wrong-chosen government strategy. In 2015, Venezuela had the biggest level of inflation in the world, 180%. Moreover, Maduro failed in the attempt to crack down the corruption. Therefore, nowadays, he tries to hold all power, and Venezuela is going from democracy …show more content…

Furthermore, it is hard to understand what will be the future for Venezuela. To stabilize and improve the economic and political situation inside the country, it is important to establish the price and currency control systems; decrease the level of corruption; produce the most basic products that are required by people to survive, the country should become less dependable from foreign products (Ellis, 2017). There are few things that can help the country to improve the economy – find investors who are not afraid of loans and expand the access to Venezuela` oil

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