For years, socialist president of Venezuela Hugo Chavez, led the country as a dramatic presence. Three years after his death, Venezuela is spiraling downward. It’s economy depended mostly on oil, and with the crash in oil prices there are rolling power blackouts and food shortages. The government can’t pay to import goods, so many grocery shelves are empty, leaving hungry citizens to resort to looting. Venezuela’s president, Nicolás Maduro, has refused to allow a recall referendum against him and the country is becoming politically unstable. Listen to hear more about the crisis in Venezuela.
Story Length: 3:15
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May 28, 2019
4:38
Venezuela has been in turmoil for years, with a growing economic crisis causing dire conditions for many citizens who are trying to survive. Shortages of food, medicine, and other supplies have made life difficult for many people. Recently, opposition leader Juan Guaido, called for a military and popular uprising to challenge President Nicolas Maduro, who refuses to give up power. Guaido is supported by the U.S. and 50 other nations as the legitimate interim president of Venezuela. Listen to this story to learn more about the political and economic upheaval in Venezuela and how it is affecting people’s lives.
Read MoreMay 24, 2017
2:48
As the economic crisis deepens and the political climate intensifies in Venezuela, President Nicolas Maduro announced he’s creating an assembly of representatives to propose changes to the country’s constitution. While Maduro says it is an attempt to bring peace, opponents see it as a move towards dictatorship. Opponents took to the streets in the capital city of Caracas in protest, adding to other protests that have been going on for months. Listen to hear more about what this means for Venezuela's future.
Read MoreMarch 21, 2016
3:52
Falling oil prices typically help the global economy. Consumers have more money if they aren’t paying as much for gas, so they spend money on other things which stimulates the economy. Falling oil prices should also mean oil producers are making less money. But this isn’t necessarily true today. Some countries have built up reserves when oil prices were high, to minimize the effect of lower prices. Other countries are experiencing high inflation and economic damage from lower oil prices, subtracting from global growth. Listen to hear more about the effects of cheap oil today.
Read MoreDecember 17, 2014
3:52
While Americans are enjoying low gas prices, oil producing nations are feeling the squeeze as the value of their biggest commodity continues to decline. Why is the price of oil dropping and who is it impacting? Listen to learn more about the international consequences of low oil prices and the interconnectedness of the international economy.
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