Quick Summary of Venezuela's crisis: since 2014, Venezuela has economically struggled and it wasn't until recently that it became evident just how low the country has fallen. High inflation and current president Nicolas Maduros's system with three different exchange rates for currency have not helped the economy. A dollar is no longer valuable as more and more people turning to the black market and recently looting for basic necessities, Several factors have led to this and the political situation in Venezuela.
According to BBC, 95 percent of Venezuela's export revenue is made from oil. Oil is one of Venezuela's main source of income and with the reduced prices, the government has struggled to fund the help it extends to the poorer citizens. Also, the lack of money means the government has less to spend on imports. This severely impacted the already strained market in Venezuela. Shop owners were already at a loss with the late President Hugo Chavez's price controls on chosen goods to help keep them affordable for the poor. The intention was good, but its intended effect backfired when manufacturers refused to produce the goods for the government. The shortage they experienced has only grown worse.
Along with increasing violence due to the Venezuelans' frustrations of lack of food, other necessities and government reform, is yet another problem. Power shortages affect most of Venezuela and only tourist states such as Nueva Esparta and Vargas are not affected by the mandated blackouts placed to relieve the shortages. People are now experiencing four hours without electricity.The shortcomings of the Venezuelan government has only worsened the crisis. At the moment, the Opposition and the "President Maduro's Socialist Unity Party" are fighting against each other. The Opposition is determine to remove President Maduro before his six-year term is over, but President Maduro has his own heavy support, leaving the Opposition at a standstill until the 1.85m signatures they submitted to recall the president are validated. Many Venezuelans are with the Opposition because they believe President Maduro's form of government is ruining Venezuela. People are hungry, frustrated, and angry. They're taking matters into their hands and are resorting to violence for survival. Just recently, 400 people were arrested for rioting and looting.
Venezuela's state of disruption is quickly gaining momentum and if nothing is done soon, a complete economic fallout will occur along with increased violence. However, one must remember that power lies in the people and together Venezuelans can and will be the change for the country. Even if not much is being done to intervene at the moment, in the future when such resources become available, an article will be written again with directions on how to help.
