How Venezuela fell from riches to a country in crisis
Daniel Coughlin
14 April 2020
The Latin American trailblazer's spiral into economic ruin
Cristian Hernandez/AFP/Getty
Discovery of black gold
HumbRios [CC BY-SA 3.0 (https://creativecommons.org/licenses/by-sa/3.0)], from Wikimedia Commons
Major oil exporter
Abreu, Ovidio. [Public domain], via Wikimedia Commons
Government cut
Unknown author [Public domain], via Wikimedia Commons
50:50 rule
Archives of the Rómulo Betancourt Foundation. [CC0], via Wikimedia Commons
Higher standard of living
Jack Manning/Three Lions/Getty
Fourth richest nation
AFP/Getty
Rich country
A. Davey/Flickr CC
Balancing the books
Liz Henry/Flickr CC
Boom times
Veronidae [CC BY-SA 3.0 (https://creativecommons.org/licenses/by-sa/3.0)], from Wikimedia Commons
Efforts to diversify
Heribert Dezeo [CC BY-SA 3.0 (https://creativecommons.org/licenses/by-sa/3.0)], from Wikimedia Commons
Comfortable life
Veronidae [CC BY-SA 3.0 (https://creativecommons.org/licenses/by-sa/3.0)], from Wikimedia Commons
Unprecedented living standards
Veronidae [CC BY-SA 3.0 (https://creativecommons.org/licenses/by-sa/3.0)], from Wikimedia Commons
Oil industry nationalisation
Courtesy UN Archive
OTT expenditure
Veronidae [CC BY-SA 3.0 (https://creativecommons.org/licenses/by-sa/3.0)], from Wikimedia Commons
Rot setting in
tchamber 236/Flickr CC
Drowning in debt
Hulton Archive/Getty
Black Friday
Numismatic Coins & History/Flickr CC
Shock therapy
Felipe Amilibia/AFP/Getty
Failed coup
Prensa Presidencial [CC BY 3.0 (https://creativecommons.org/licenses/by/3.0)]
Banking crisis
José Cohen/AFP/Getty
Dire straits
Felipe Amlibia/AFP/Getty
Rise of Chávez
Bertrand Parres/AFP/Getty
Bolivarian Republic
Ira Chaplin/AFP/Getty
Economic mismanagement
Juan Barreto/AFP/Getty
Unsustainable policies
Thomas CoexAFP/Getty
Social breakdown
Leo Ramirez/AFP/Getty
Dubious third term
Juan Barreto/AFP/Getty
Maduro in power
Luis Acosta/AFP/Getty
Economic ruin
Ronaldo Schemidt AFP Getty
Widespread hunger
Federico Parra/AFP/Getty
Political resistance
Federico Parra/AFP/Getty
Uprising and violence
MATIAS DELACROIX/AFP/Getty
Widespread blackouts
CRISTIAN HERNANDEZ/AFP/Getty
US sanctions intensify
FEDERICO PARRA/AFP/Getty
Oil prices tumbling
Mark Evans/Getty
US sanctions still stand despite coronavirus
Federico Parra/AFP/Getty
Coronavirus enters the country
Cristian Hernandez/AFP/Getty
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