The opposition-dominated Venezuelan parliament issued fresh economic data on Monday, showing that inflation for the month of May spiked 110.1 percent compared with April, and sending annual inflation to a staggering 24,571 percent.
With daily inflation running at 2.4 percent, the country’s currency, the bolivar, plunged about 98 percent in the course of the past 12 months alone.
“It’s a tragedy that we are experiencing every day,” said the parliament’s finance commission spokesman Rafael Guzman as he revealed the latest figures.
In 1957, Ayn Rand wrote a compelling novel about a world overtaken by socialism. In that world, the talents who earned money for their work were being robbed by their government. The heavy government regulations crippled the industries.
Luxury yacht owners have been warned of a surge in piracy in the southern Caribbean, as Venezuela’s economic collapse spurs its penniless fishermen into banditry.
According to a new global survey of global maritime security, 71 piracy incidents took place in the region last year, compared to just 21 the year before.
Researchers for the charity Oceans Beyond Piracy, which compiled the survey, said that a majority of the attacks had been off the coast of Venezuela, which is currently engulfed by political turmoil and hyperinflation.
After a couple of years of NDP rule that headline will read “Piracy Returns to the Great Lakes” due to Ontario’s economic collapse
Venezuela’s leftist leader Nicolas Maduro won a new six-year term on Sunday, but his main rivals disavowed the election alleging massive irregularities in a process critics decried as a farce propping up a dictatorship.
Victory for the 55-year-old former bus driver, who replaced Hugo Chavez after his death from cancer in 2013, may trigger a new round of western sanctions against the socialist government as it grapples with a ruinous economic crisis.
US President Donald Trump’s administration is threatening moves against Venezuela’s already reeling oil sector.
Wednesday, CNN presented yet another story about Venezuela’s implosion which did a fine job of portraying that country’s human misery, this time in the oil industry. Unfortunately, it was yet another example of a story failing to mention its socialist form of government or even its leader, President Nicolas Maduro.
Venezuela seizes control of private bank Banesco, arrests top executives
The government of Venezuela announced on Thursday the arrest of 11 executives of the nation’s leading private bank, Banesco, for alleged “attacks” against the country’s struggling currency.
Shortly after the arrests, the government announced that the state would intervene in the bank’s activities for a period of 90 days, in order to “guarantee the full functioning and continuation of its services.”
Maduro’s government explained that the takeover was necessary to “protect the people” and “clean up” all the illicit activity that was taking place in the bank.
Venezuela is Justin’s goal for Canada
GENEVA (Reuters) – More than 800 Venezuelans stream into northern Brazil each day, the United Nations said on Friday, citing Brazilian government statistics on people fleeing the worsening crisis in the economically crippled nation.
More than 52,000 Venezuelans have arrived in Brazil since the start of 2017, including an estimated 40,000 living in Boa Vista, capital of Roraima state, it said.
About 25,000 of the migrants are asylum seekers while 10,000 have obtained temporary resident visas and the rest are seeking to regularize their status, the U.N. High Commissioner for Refugees (UNHCR) said.
Distraught families are demanding information from the Venezuelan authorities about how at least 78 people died in a fire while they were locked in police cells.
Police fired teargas as relatives clashed with police outside the facility in Valencia, Carabobo state, after local officials would confirm only that there had been deaths in Wednesday’s fire.
The fire appears to have broken out during a disturbance at the holding – reportedly designed to hold a maximum of 60 prisoners – with gunfire heard during the riot.
I don’t know how many times I have to say it, but people on the move because they need work and food (or their climate is changing some), or fear crime in their own countries are not legitimate refugees requiring resettlement.
CARACAS, Venezuela — His family thought he just had a bad cold, nothing serious.
But Victor Martínez kept getting worse. By mid-January, he lay in a hospital ward, wasting away from tuberculosis. A month later, at his wake, stunned relatives tried to reckon with the resurgence of a disease that many Venezuelans thought had been mostly confined to the history books.
“I really don’t know what to think,” said Nileydys Yesenia Aurelia Martínez, his niece. “Even the last thing you’d imagine is happening.”
In a cramped hospital near Colombia’s border with Venezuela, migrants fill stretchers bearing the wounds of the deteriorating nation they left behind.
An 18-year-old woman rubbed her swollen belly after fleeing with her infant daughter when the wounds from her C-section began to ooze pus. A young man whose femur had torn through his skin in a motorcycle crash needed antibiotics for an infection. An elderly retiree with a swollen foot arrived after taking a 20-hour bus ride from Caracas because doctors there told his family the only treatment they could offer was amputation — without anesthesia or antibiotics.
Hyperinflation has reduced Venezuela’s once-oil-rich economy to dust. People are fleeing in their thousands every day and it’s feared the election on April 22 will change nothing.
A trope of the Left is back before the eeevil KKKapitalists of Western Civilization came around, all the peace-loving persons of color were “noble savages” living twig-worshipping idyllic communal lives free from silly things like gender or any concept of self.
CÚCUTA, Colombia — For the past three weeks, Wilya Hernández, her husband and their daughter, 2, have been sleeping on the garbage-strewn streets of Cúcuta, a sprawling and chaotic city on Colombia’s side of the border with Venezuela.
Though Antonela, the toddler, often misses meals, Ms. Hernández has no desire to return home to Venezuela.
“I need an angel,” Ms. Hernández said, holding back tears at 1 a.m. on a humid recent night. “We can’t go back, and we can’t stay here.”