Source: Christian Science Monitor
by staff
“Ten years ago, Venezuela had the fourth-largest economy in Latin America, anchored by the largest oil reserves in the world. Since then, its economy has collapsed by more than 86%. More than 1 in 5 Venezuelans have left, forced by economic hardship, persecution, or criminal violence to seek freedom and opportunity elsewhere. The exodus is an oft-cited measure of the misrule of socialist autocrat President Nicolas Maduro. Yet the flip side of that picture reveals another story. Nearly 80% of Venezuelans have stayed put, reflecting in part an expectation among many that justice and equality will return. … The resiliency has lasted a long time. In 2013, Mr. Maduro inherited the rule of the late Hugo Chavez as well as an economy kept aloft with petrodollars. A crash in oil prices then led him down a harsh autocratic path.” (03/06/23)
https://www.csmonitor.com/Commentary/the-monitors-view/2023/0306/Venezuela-s-latent-civic-reserves