Venezuela

The crisis in Venezuela refers to a deep political, economic and social crisis that began during the government of Hugo Chávez and has continued with his successor Nicolás Maduro.95 96 Marked by strong hyperinflation, increased poverty, 95 reappearance of diseases eradicated, crime and increased mortality, resulting in massive emigration from the country.97 According to several economists interviewed by The New York Times, the situation is by far the worst economic crisis in the history of Venezuela and the worst in the world since mid-20th century from a country that is not experiencing a war, much more serious than the Great Depression in the United States, worse than the 1985-1994 economic crisis in Brazil or the hyperinflationary crisis in Zimbabwe of 2008-2009.98 Various researchers have compared various aspects of the crisis, such as unemployment and the contraction of GDP, with postwar Bosnia and Russia, as well as Cuba and Albania after the c wave of the Soviet Union 99 100

On June 2, 2010, Chávez declared an "economic war" due to growing shortages in Venezuela.101 The crisis intensified under the government of Nicolás Maduro, aggravated as a result of the drop in oil prices in early 2015, 102 103 due to a drop in oil production in Venezuela due to lack of maintenance and investment, 97 resulting in a major oil crisis.104 The government was unable to reduce the deficit due to the drop in oil revenues, facing the crisis by denying its existence, 105 and violently repressing the population.97 106