Source: Nueva Sociedad. All Rights Reserved.
Venezuela was once a rich country. Many say it and repeat it: in the past, the country’s growth was founded on the largest oil reserves in the world. It is now the poorest economy in South America in terms of growth of per capita GDP.
Venezuela is going through the worst economic crisis in its history, with an inflation rate exceeding 500%, a highly volatile exchange rate and critical levels of debt that have increased fivefold since 2006. This crisis has aggravated the long-standing "economic war" squarely opposing the business sector and the government.
