Venezuela is a country on the Northern Coast of South America with diverse natural attractions. Venezuela is considered a state with extremely high biodiversity (currently ranks 7th in the world’s list of nations with most numbers of species) with habitats, ranging from the Andes Mountains in the west to Amazon Basin rainforest in the South. Caracas is the Capital and largest city in Venezuela. Since the discovery of oil in the early 20thcentury, Venezuela has the world’s largest oil reserves and has been one of the world’s leading exporters of oil. Even Venezuela has also been producing the most number of beauty pageants in the world history. This country has won all four of the pageants with 22 victorious titles, Venezuela won Miss Universe, Miss World, Miss International and Miss Earth crowns as seven, six, seven and two respectively.
The 1980’s oil glut led to an external debt crisis and long-running economic crisis in which inflation peaked at 100% in 1996 and poverty rates rose to 66% in 1995. Again Venezuela under Hugo Chavez (1999-2013) suffered one of worst cases of Dutch Diseases in the world due to large dependence on oil sales. Poverty and Inflation began to increase into the 2010’s. After the death of Chavez, Venezuela devalued its currency, in February 2013 due to the rising shortages in the currency, which included those of milk, flour and other necessities. Which lead to increase in malnutrition among children. Venezuela entered to an economic recession in 2014. In 2015, Venezuela had the world’s highest inflation rates with the rate surpassing 100%. In July 22, 2016 President Nicolas Maduro declared a state of economic emergency for 60 days. At present, some Venezuelan supermarkets are now guarded by soldiers, as price increases and consumers are squeezed.
And, you know the reason this is happening for the most part is because Venezuela isn’t able to produce foods that it needs and its not to able buy the foods that it needs to import if it can’t make what it needs. Opposition was trying to organize a referendum and thousands of supporters of an opposition alliance called MUD were to congregate in Caracas streets demanding recall of the president Maduro. Bigger question is that if there’s a referendum, if there’s a new Govt. in power, will they be able to put more foods on their people’s plate?
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