Venezuela's economy has collapsed due to its overdependence on oil, mismanagement, and US sanctions. Hyperinflation has skyrocketed to over 2 million percent, poverty is widespread as shortages of food and medicine grow due to the inability to import necessities. Over 5 million Venezuelans have fled the country due to the humanitarian crisis. While the government has attempted currency reforms and wage increases to address the crisis, inflation continues to rise severely impacting citizens. The international community faces challenges in how to respond, with options including increased humanitarian aid, sanctions against the government, or potentially military intervention.
Venezuela is country in Latin America. the country has been facing hyperinflation, crimes, starvation, food shortages and severe socioeconomic and political crisis. there is a geopolitical game played by great powers.
Hyperinflation and economic collapse of VenezuelaTilikaChawda
A complete analysis of the current political conditions of the country and its effect on socio-economic factors and its impact on socio-economic factors along with recommendations for the betterment of the system.
Venezuela's crisis and economic conditionAbir Hasan
This topic was given to us for presentation by the teacher of Macroeconomics course (Bus 201). We talked about crisis in Venezuela and their sufferings. It was great opportunity to know about the economic condition of the country.
Venezuela is country in Latin America. the country has been facing hyperinflation, crimes, starvation, food shortages and severe socioeconomic and political crisis. there is a geopolitical game played by great powers.
Hyperinflation and economic collapse of VenezuelaTilikaChawda
A complete analysis of the current political conditions of the country and its effect on socio-economic factors and its impact on socio-economic factors along with recommendations for the betterment of the system.
Venezuela's crisis and economic conditionAbir Hasan
This topic was given to us for presentation by the teacher of Macroeconomics course (Bus 201). We talked about crisis in Venezuela and their sufferings. It was great opportunity to know about the economic condition of the country.
Impact of russia ukraine war on india as we all know that, India’s situation in the Russia-Ukraine question is likewise vital. Both Russia and America are significant for India. India actually purchases 55% of its weapons from Russia, while India’s binds with the US have reinforced essentially throughout the course of recent years. impact of Russia Ukraine war on india.
Impacts of the Russia-Ukraine crisis on global and regional markets. Focus on...David Laborde
Presentation on the impact of Russia and Ukraine on global and regional markets with a focus on Mena countries.
David Laborde and Joe Glauber. March 6th.
Please check https://www.slideshare.net/DLabordeD/impacts-of-russiaukraine-crisis-on-global-food-markets for a stronger emphasis on global markets and Ukraine situation.
Eugenio Diaz-Bonilla
POLICY SEMINAR
Technical Discussion on the 2019 Global Report on Food Crises: Working together to prevent food crises
Co-Organized by IFPRI, FAO North America and Food Security Information Network (FSIN)
APR 26, 2019 - 09:30 AM TO 11:00 AM EDT
A Social and Economic situation in a country present in south america that began during the presidency of Hugo Chávez and has been very noticeable in Nicolas Maduro’s presidency
Impact of russia ukrian war on india.pptxkratikamehta7
Russia's war in Ukraine is the biggest bugbear for the global economy in 2022-23.
It has directly or indirectly raised the prices of a vast range of things- from food and cooking gas, soaps and cosmetics, cars and city transport, steel and aluminium, to flight tickets and shipping freight.
It's the biggest choke on a world sputtering to a recovery after two years of pandemic slump.
Russia's war in Ukraine is the biggest bugbear for the global economy in 2022-23.
It has directly or indirectly raised the prices of a vast range of things- from food and cooking gas, soaps and cosmetics, cars and city transport, steel and aluminium, to flight tickets and shipping freight.
It's the biggest choke on a world sputtering to a recovery after two years of pandemic slump.
Russia's war in Ukraine is the biggest bugbear for the global economy in 2022-23.
It has directly or indirectly raised the prices of a vast range of things- from food and cooking gas, soaps and cosmetics, cars and city transport, steel and aluminium, to flight tickets and shipping freight.
It's the biggest choke on a world sputtering to a recovery after two years of pandemic slump.
Russia vs Ukraine war impact in Indian economy presentation made by Sachin Pr...The Daily Update TDU
This is presentation which is made by Sachin Pratap Singh who is student of BBA,MBA & researcher in Indian economic development in education sector as well as health sector.
This presentation is related to the Ukraine vs Russia war, impact in Indian economy
Overview about The financial Crisis in 2008. The presentation with 4 main points: reasons, development (also including responses), and consequences.
We hope that this is an easy source of information for you to understand this crisis.
This is PPP for money and banking course talking about Venezuela financial crisis and finding solutions
outlines:
- Introduction
- The Beginning of the problem
- How did it affect people
- Venezuelan Debt
- Business and industry & Unemployment
- Inflation
- Affect on other Countries
- Solutions
Impact of russia ukraine war on india as we all know that, India’s situation in the Russia-Ukraine question is likewise vital. Both Russia and America are significant for India. India actually purchases 55% of its weapons from Russia, while India’s binds with the US have reinforced essentially throughout the course of recent years. impact of Russia Ukraine war on india.
Impacts of the Russia-Ukraine crisis on global and regional markets. Focus on...David Laborde
Presentation on the impact of Russia and Ukraine on global and regional markets with a focus on Mena countries.
David Laborde and Joe Glauber. March 6th.
Please check https://www.slideshare.net/DLabordeD/impacts-of-russiaukraine-crisis-on-global-food-markets for a stronger emphasis on global markets and Ukraine situation.
Eugenio Diaz-Bonilla
POLICY SEMINAR
Technical Discussion on the 2019 Global Report on Food Crises: Working together to prevent food crises
Co-Organized by IFPRI, FAO North America and Food Security Information Network (FSIN)
APR 26, 2019 - 09:30 AM TO 11:00 AM EDT
A Social and Economic situation in a country present in south america that began during the presidency of Hugo Chávez and has been very noticeable in Nicolas Maduro’s presidency
Impact of russia ukrian war on india.pptxkratikamehta7
Russia's war in Ukraine is the biggest bugbear for the global economy in 2022-23.
It has directly or indirectly raised the prices of a vast range of things- from food and cooking gas, soaps and cosmetics, cars and city transport, steel and aluminium, to flight tickets and shipping freight.
It's the biggest choke on a world sputtering to a recovery after two years of pandemic slump.
Russia's war in Ukraine is the biggest bugbear for the global economy in 2022-23.
It has directly or indirectly raised the prices of a vast range of things- from food and cooking gas, soaps and cosmetics, cars and city transport, steel and aluminium, to flight tickets and shipping freight.
It's the biggest choke on a world sputtering to a recovery after two years of pandemic slump.
Russia's war in Ukraine is the biggest bugbear for the global economy in 2022-23.
It has directly or indirectly raised the prices of a vast range of things- from food and cooking gas, soaps and cosmetics, cars and city transport, steel and aluminium, to flight tickets and shipping freight.
It's the biggest choke on a world sputtering to a recovery after two years of pandemic slump.
Russia vs Ukraine war impact in Indian economy presentation made by Sachin Pr...The Daily Update TDU
This is presentation which is made by Sachin Pratap Singh who is student of BBA,MBA & researcher in Indian economic development in education sector as well as health sector.
This presentation is related to the Ukraine vs Russia war, impact in Indian economy
Overview about The financial Crisis in 2008. The presentation with 4 main points: reasons, development (also including responses), and consequences.
We hope that this is an easy source of information for you to understand this crisis.
This is PPP for money and banking course talking about Venezuela financial crisis and finding solutions
outlines:
- Introduction
- The Beginning of the problem
- How did it affect people
- Venezuelan Debt
- Business and industry & Unemployment
- Inflation
- Affect on other Countries
- Solutions
The presentation describes the reason for Venezuela Boliver crisis on a time series basis. year by year the incidents are described and also the steps are taken to resolve the crisis is also told in the slide. The impact of the crisis and the present condition also described briefly.
Hyperinflation and its effect on different world economiesDevanshDhruv1
What is Hyperinflation?
Causes of Hyperinflation.
Effects of Hyperinflation.
Examples of Economies that faced Hyperinflation.
Countries like Hungary, Zimbabwe, Venezuela.
Solutions of Hyperinflation.
Very difficult, representative democracy can result from the political conflicts that occur in Venezuela due to the impossibility of establishing a social pact that would require consensus in Civil Society difficult to construct between pro-Chávez and anti-Chávez forces. In addition to the civil war, there is a risk of US military intervention to appropriate the world's largest oil reserves in Venezuela with the support of some Latin American countries in flagrant disregard of the United Nations Charter from which it can result of a conflict involving several countries in Latin America. This situation tends to promote the intensification of the new Cold War between the United States and the allied Russia of Venezuela and the worsening of relations between the United States and China, also an ally of Venezuela.
Venezuelan Food Shortage, By WILLIAM NEUMAN.
Venezuela has the world's largest known oil reserves and has been one of the world's leading exporters of oil. Previously it was an underdeveloped exporter of agricultural commodities such as coffee and cocoa, then oil quickly came to dominate exports and government revenues.
The latest quarterly outlook on Venezuela's economy. Enjoy reading and please get in touch if you have any questions or comments.
El reporte trimestral sobre la economia colombiana. Disfrutelo y por favor, ponganse en contacto si tiene algunas dudas o comentarios.
Here is my quarterly update on Venezuela. Enjoy reading and feel free to get in touch with me for questions or comments.
Aquí esta mi actualización trimestral sobre Venezuela. Disfrutenla y ponganse en contacto conmigo si tienen preguntas o quieren comentar algo.
Assignment 2Deadline 27-03-2020 @ 2359Course Name Intro t.docxbraycarissa250
Assignment 2
Deadline: 27-03-2020 @ 23:59
Course Name: Intro to International Business
Instructions:
· : Students must mention question number clearly in their answer.
· Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
· All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism).
· Citing of references is also necessary in APA style.
Critical Thinking
Please read Case 2: “Venezuela under Hugo Chávez and Beyond” available in your e-book (page no.611), and answer the following questions:
Assignment Question(s):
1. Under Chávez’s leadership, what kind of economic system was put in place in Venezuela? How would you characterize the political system?
2. How do you think that Chávez’s unilateral changes to contracts with foreign oil companies will affect future investment by foreigners in Venezuela?
3. How will the high level of public corruption in Venezuela affect future growth rates?
4. During the Chávez years, many foreign multinationals exited Venezuela or reduced their exposure there. What do you think the impact of this has been on Venezuela? What needs to be done to reverse the trend?
5. By 2016, Venezuela’s economy appeared to be on the brink of total collapse. What do you think needs to be done to reverse this?
Assignment 2
D
ead
line:
27
-
03
-
2020
@ 23:59
Course Name:
Intro to International Business
Instructions
:
·
:
Students
must mention question number clearly
in their
answer
.
·
Avoid plagiarism
, the work should be in
your own words
, copying from
students or other
resources without proper referencing will result in
ZERO
marks. No exceptions.
·
All answered must be typed using
Times New Roman (size 12, double
-
spaced)
font.
No pictures
containing text will be accepted and will be
considered plagiarism).
·
Citing of
references
is also necessary
in
APA style
.
C
ritical Thinking
Please read
Case 2
:
“Venezuela under Hugo Chávez and Beyond”
available in your e
-
book
(page no.611
), and answer
the following questions:
Assignment Question
(s)
:
1.
Under Chávez’s leadership, what kind of economic system was put in place in
Venezuela? How would you characterize the political system?
Assignment 2
Deadline: 27-03-2020 @ 23:59
Course Name: Intro to International Business
Instructions:
: Students must mention question number clearly in their answer.
Avoid plagiarism, the work should be in your own words, copying from
students or other resources without proper referencing will result in ZERO
marks. No exceptions.
All answered must be typed using Times New Roman (size 12, double-
spaced) font. No pictures containing text will be accepted and will be
considered plagiarism).
Citing of references is a ...
Assignment 2Deadline 27-03-2020 @ 2359Course Name Intro t.docxursabrooks36447
Assignment 2
Deadline: 27-03-2020 @ 23:59
Course Name: Intro to International Business
Instructions:
· : Students must mention question number clearly in their answer.
· Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
· All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism).
· Citing of references is also necessary in APA style.
Critical Thinking
Please read Case 2: “Venezuela under Hugo Chávez and Beyond” available in your e-book (page no.611), and answer the following questions:
Assignment Question(s):
1. Under Chávez’s leadership, what kind of economic system was put in place in Venezuela? How would you characterize the political system?
2. How do you think that Chávez’s unilateral changes to contracts with foreign oil companies will affect future investment by foreigners in Venezuela?
3. How will the high level of public corruption in Venezuela affect future growth rates?
4. During the Chávez years, many foreign multinationals exited Venezuela or reduced their exposure there. What do you think the impact of this has been on Venezuela? What needs to be done to reverse the trend?
5. By 2016, Venezuela’s economy appeared to be on the brink of total collapse. What do you think needs to be done to reverse this?
Assignment 2
D
ead
line:
27
-
03
-
2020
@ 23:59
Course Name:
Intro to International Business
Instructions
:
·
:
Students
must mention question number clearly
in their
answer
.
·
Avoid plagiarism
, the work should be in
your own words
, copying from
students or other
resources without proper referencing will result in
ZERO
marks. No exceptions.
·
All answered must be typed using
Times New Roman (size 12, double
-
spaced)
font.
No pictures
containing text will be accepted and will be
considered plagiarism).
·
Citing of
references
is also necessary
in
APA style
.
C
ritical Thinking
Please read
Case 2
:
“Venezuela under Hugo Chávez and Beyond”
available in your e
-
book
(page no.611
), and answer
the following questions:
Assignment Question
(s)
:
1.
Under Chávez’s leadership, what kind of economic system was put in place in
Venezuela? How would you characterize the political system?
Assignment 2
Deadline: 27-03-2020 @ 23:59
Course Name: Intro to International Business
Instructions:
: Students must mention question number clearly in their answer.
Avoid plagiarism, the work should be in your own words, copying from
students or other resources without proper referencing will result in ZERO
marks. No exceptions.
All answered must be typed using Times New Roman (size 12, double-
spaced) font. No pictures containing text will be accepted and will be
considered plagiarism).
Citing of references is a.
The mess tropical Marxism makes; VenezuelaThe Economist. 424.905.docxoreo10
The mess tropical Marxism makes; Venezuela
The Economist. 424.9051 (July 29, 2017): p19(US).
Copyright: COPYRIGHT 2017 Economist Intelligence Unit N.A. Incorporated
http://store.eiu.com/
Full Text:
Can anyone stop Mr Maduro?
Can anyone stop Mr Maduro?
Nicolas Maduro's attempt to impose dictatorship could end bloodily
IT COULD almost be a piece of contemporary art, rather than a tool of political struggle. Overlooked by a mango tree heavy with blushing fruit, a rope is strung across Avenida Sucre as it climbs through a comfortable middle-class area towards the forested slopes of Monte Avila overlooking Caracas. Arranged beneath it are two distressed wooden beams, two pallets placed vertically, a wheel hub, a rusting metal housing for an electric transformer and several tree branches. They form a flimsy barricade watched over by a couple of dozen local residents.
Why are they blockading their own street? "Because we want this government to go," explained Maria Antonieta Viso, the owner of a catering firm. They were taking part in a 24-hour "civic strike" on July 20th, called by the opposition coalition, Democratic Unity (MUD, from its initials in Spanish). Down the hill, across innumerable such roadblocks, the sting of tear gas signalled clashes between demonstrators and the National Guard, a militarised police force. The strike, repeated this week, was part of "Zero Hour"--a campaign of civil disobedience aimed at blocking a plan by Nicolas Maduro, Venezuela's president, to install a constituent assembly with absolute powers.
Mr Maduro claims that the assembly is the "only way to achieve peace", to provide Venezuelans with social welfare and to defend the country against what he claims is an "economic war" launched by America (though he provides no evidence of this). "What they are trying to do is to install the Cuban model in this country," retorts Ms Viso. "We will all be screwed even if we take to the streets. There won't be private property, my business will go to the state." The long battle over power and policy in Venezuela that began when Hugo Chavez was elected president in 1998 has reached a critical point. Both government and opposition believe that they are fighting for survival against a backdrop of a failing economy, rising hunger and anarchy.
Chavez, a former army officer, proclaimed a "Bolivarian revolution", named for Simon Bolivar, South America's Venezuelan-born independence hero. He, too, summoned a constituent assembly, which drew up a new constitution and which he used to take control of the judiciary and the electoral authority. For much of his 14 years in power he had the support of most Venezuelans, thanks partly to his charismatic claim to represent a downtrodden majority and to the flaws of an opposition identified with an uncaring elite. But above all the soaring price of oil gave him an unprecedented windfall, some of which he showered on social programmes in the long-neglected ranchos (shantytowns). A c ...
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
The Art Pastor's Guide to Sabbath | Steve ThomasonSteve Thomason
What is the purpose of the Sabbath Law in the Torah. It is interesting to compare how the context of the law shifts from Exodus to Deuteronomy. Who gets to rest, and why?
Ethnobotany and Ethnopharmacology:
Ethnobotany in herbal drug evaluation,
Impact of Ethnobotany in traditional medicine,
New development in herbals,
Bio-prospecting tools for drug discovery,
Role of Ethnopharmacology in drug evaluation,
Reverse Pharmacology.
Instructions for Submissions thorugh G- Classroom.pptxJheel Barad
This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
4. VENEZUELA AT GLANCE
• LOCATION – South America
• CAPITAL - Caracas
• OFFICIAL LANGUAGE – Spanish
• CURRENCY – Bolivar
• POPULATION - 31 Million
(44th)
• PRESIDENT - Nicolás Maduro
5. DISCOVERY OF VENEZUELA
For centuries the indigenous peoples of
Venezuela lived by farming but also by
hunting and fishing.
Then in 1498 Christopher Columbus
became the first European to reach
Venezuela.
1499 - Alonso de Ojeda, a Spanish explorer,
apparently names the country's north coast
"Venezuela", or "little Venice" because of
its resemblance to the Italian city.
6. INDEPENDENCE OF VENEZUELA
1810 - The king of Spain was overthrown by France's
Napoleon Bonaparte, providing an opening for anti-
colonial movements fighting for independence.
1821 - After a series of bitter battles Gran Colombia
- comprising Venezuela, Colombia, Panama and
Ecuador, wins independence from Spain.
1830 - Venezuela separates from Gran Colombia to
become an independent country with Caracas as its
capital.
7. DISCOVERY OF OIL
Around 9th and 10th century Venezuela indigenous
tribes found oil seeping through the land.
1922 a huge oil well was discovered and Venezuela
became the largest oil producer in the world.
Venezuela allowed American oil company to write
Venezuela’s petroleum law.
In 1928 Venezuela has the largest oil reserves in the
world.
8. GROWTH OF VENEZUELA
World War 2 increased demand so much that Venezuela
was producing 1 million barrels per day.
During 1950s Venezuela was one of the strongest and
most prosperous in South America
GDP Per Capita almost reached that of West Germany
4th wealthiest per capita nation
Worker enjoyed higher wages in North America
10. Bad economic policies and politics
Falling Oil Prices and Dependent on Oil reserves
Printing more money and switching currencies
Nationalization of private companies
Crimes against humanity
?
11. Bad economic policies and politics
Huge Chavez is the president of Venezuela from 1999-2013 and died in
2013 due to cancer. During the presidency of Chavez, He spend all the
revenues that comes from oil to welfare programs.
They do have not focus on agricultural and manufacturing sector . They
hare heavely dependent on Imports .While the economy shrinks, the price
of goods is skyrocketing. Years of excessive government spending on
welfare programs and poorly managed facilities set the stage for the crisis.
12. In 2013 Nicolás Maduro become the president of Venezuela. Maduro govt faces low oil prices. Lack
of oil reserves forces the government to curtail its welfare programmes.
13. President Maduro reduced the power of National Assembly. The National Assembly was
Venezuela’s legislative branch, dominated by opposition parties. Maduro replaced it with a
regime-controlled “Constituent Assembly.”
Maduro has also ensured that his Socialist Party stays in power by blacklisting and jailing
opposition candidates, shutting down news outlets that report on the regime’s actions and
offering food in exchange for votes.
And pro-democracy groups that receive foreign funding are now subject to prosecution on
charges of “financing terrorism” under a 2012 anti-money laundering law. The controversial
legislation has handicapped Venezuelan society’s ability to organize against the regime.
14. Printing more money and switching
currencies
Venezuela has responded to this need for revenue by simply printing more money – and
that has led to spiralling inflation, with the currency becoming increasingly weak in
terms of its purchasing power. Chávez and his successor, Nicolás Maduro have each
responded to this spiralling inflation in turn with major currency changes.
The first change occurred in 2008 when Venezuela switched from the standard bolívar
to the bolívar fuerte (strong). Then, in August 2018, Venezuela switched currencies
again, this time replacing the strong bolívar with the bolívar soberano (sovereign).
15. Falling Crude Oil Prices globally
Poor economic performance of China,Brazil and Europe has dropped the demand of crude oil
prices.
Supply has Risen: US oil production is highest of 30 years due to Shale oil production.
OPEC countries are producing more oil despite of low demand.
Countries are shifiting to renewable resourses.
16. Dependent on Oil reserves
Things got really bad when oil prices started to plunge in 2014. Venezuela has the
world's largest oil reserves, but the problem is that oil is the only game in town. It
makes up over 95% of Venezuela's revenue from its exports. If it doesn't sell oil, the
country doesn't have money to spend.
Oil prices were over $100 a barrel in 2014. Today, they however around $50 a barrel.
Venezuela's state-run oil company, PDVSA, hasn't paid the companies that help extract
its oil, such as Schlumberger (SLB). In the spring, Schlumberger and other companies
dramatically reduced operations with PDVSA, citing unpaid bills.
17. Nationalization of private companies
PDVSA(Petroluem of Venezuela) is state oil and natural gas company.
Chavez order PDVSA to start hiring people in order to reduce unemployment . PDVSA don’t need
more people so it creates financial burden on PDVSA . PDVSA generates 95% of country income.
Chvez is against the private business. He nationalized the private companies
18. Crimes against humanity
According to a recent report on human rights in Venezuela, police and
other government forces killed 131 protesters between 2014 and 2017.
And since 2013, the Venezuelan security forces have arrested 12,000
citizens, executed 8,292 and tortured nearly 300 people. The report was
written by a panel of independent international experts appointed by
the Organization of American States and based on witnesses’ public
hearings.
The United Nations made a similar recommendation in a report on
human rights violations there.
After years of violent repression, most people are now too afraid to
protest.
20. PROBLEMS IN VENEZUELA
1. Hyperinflation : The biggest problem
• 2.69 million percent annual inflation rate.
• Can reach up to 10 million percent by this year.
21. 2. ECONOMIC WAR :
• Venezuelan currency (BOLIVAR) has weakened sharply in
the black market.
3. Food shortages :
• Influence of black market on
the prices.
• Attempts of the general public
to cross the border with
Colombia to buy basic goods.
22. 4. Oil output :
• On a track to fall below 700,000 barrels per day in 2019.
5. Health assistance :
• Unavailability of medicines and
equipments.
23. 6. Crime and poverty :
• 27,479 were killed in 2016 (an all-time high)
• Caracas, Venezuela was the most dangerous capital city in
the world in 2017.
24. WHAT’S THE GOVERNMENT DOING ABOUT IT ?
Back in August, the government lopped five zeros off the old
“strong bolivar”. This meant people no longer had to carry such
huge amounts of cash.
It also began circulating eight new banknotes worth 2,5,10,20,
50,100,200 and 500 sovereign bolivars and two new coins.
The new currency is part of an “economic package” of measures
Which the government says is the “magic formula” to help
Venezuela’s battered economy recover.
Among the measures were :
• Raising the minimum wage to 34 times its previous level from
1st September.
25. Anchoring the sovereign bolivar to the petro, a virtual
currency the government says it is linked to Venezuela’s oil
reserves.
• Curbing Venezuela’s generous fuel subsidies for those not in
possession of a “Fatherland ID”.
• Raising VAT by 4% to 16%.
However, the currency has continued to fall since
its
introduction, and a further minimum wage increase has had to
be introduced, leading to questions over how effective the
move
was.
27. SOCIAL CRISIS
Hunger
When the price of petroleum was high, Venezuela
became dependent on food imports, and once the price
declined the government became unable to afford the
imports.
According to the head of waste collection in the city of
Maracaibo, Ricardo Boscan, 6 out of every 10 garbage
bags or trash cans are being looted by hungry people.
28.
29. Health
In Maduro presidency, the Government could not supply
enough money for medical supplies among healthcare
providers, with doctors saying that 9 of 10 of large
hospitals had only 7% of required supplies and private
doctors reporting numbers of patients that are
"impossible" to count dying from easily treated illnesses
due to the "downward sliding economy" in 2014.
Emigration
The PGA Group estimates more than 1.5 million
Venezuelans emigrated between 1999 and 2014 but
an estimated 1.8 million left by 2015. In the first
part of 2018, emigration from Venezuela was
estimated to average 5000 a day
32. How Venezuela's crisis will impact
petrol, diesel prices in India
Venezuela was India's fourth biggest crude supplier after
Iraq, Saudi Arabia and Iran in the current fiscal till
November, accounting for about 12% of India's total oil
imports.
According to CARE Ratings, if the Venezuela situation is
not resolved by the time the Iran oil sanction waivers are
lifted, it could push up oil prices to $70 bbl by May 2019.
India imported about 340,000 barrels a day last year .
CARE assume at the macro level with imports of 1643 million
barrels of crude oil in FY19, a dollar increase in prices on a
permanent basis would increase the bill by roughly $1.6
billion per annum !!!
33.
34. The need for
more
international
action
Need for armed intervention to
depose Maduro and facilitate
humanitarian relief
Any such intervention would of
course require a meaningful
international coalition; clear
international and domestic legal
justification and sanction; and the
will and resources to persist in what
would almost certainly be year's long
commitment
But such an action should be avoided
as much as possible.
35. Address the refugee crisis
Immediately halt the deportation of any Venezuelan immigrant
Immediately meet the UNHCR’s identified funding needs
Increase funding for Venezuela’s affected neighbors, especially Colombia
Provide recognized travel credentials to Venezuelans forced to flee without
documents
36. Logical way forward
National assembly must designate a new government.
New military high command to organize and return to Democracy.
Introduction of new currency anchored to USD.
Slowly restructure employment scenario and reduce corruption.
US sanctions lifted in case of end of Mundo regime ,IMF provides
loan ,economy will set back when oil production rebounds.