Socialism led to a once-rich country running short on toilet paper. Capitalism has put an impoverished country on the path to ...

Around three-fourths of Venezuelans now live in extreme poverty as the once-prosperous OPEC nation's hyperinflationary economic collapse continued for a seventh straight year, according to a study ...

Introduction Over the past year, the statement that poverty in Venezuela has increased under the government of President Hugo Chávez has appeared in scores of major newspapers, on major television and ...

Poverty in Venezuela has fallen to 50.5% amid the South American country's economic recovery, though income inequality continued to widen, according to a study by the National Poll of Living ...

In fact, Venezuela’s per capita GDP reached its all-time low in 2003, under Chávez. This is no surprise: Making well-off countries poor and poor countries starving is what socialists do.

It's true that Venezuela once had a thriving economy that fell to deep poverty — but there's more to it than just a simple explanation of socialism, Stephen Morris explained.

Venezuela's history is one of dramatic contrasts,emerging as a wealthy nation rich in natural resources, particularly oil, ...

In fact, what ENCOVI calls “poverty caused by social reasons”—a measure based only on education, housing, and health—rose from 31 percent of households in 2019 to 42 percent in 2022.

Venezuela’s 360% inflation fuels migration, poverty. While the economy is slowly improving, a quarter of Venezuela’s population has left the country as high inflation and low wages persist.

Venezuela has an estimated debt burden of $150 billion or higher. Hyperinflation. ... Myanmar has struggled with military rule, civil war, poor governance, and widespread poverty.

The collapse of the oil industry has left Cabimas, once one of the richest communities in Venezuela, in extreme poverty. Every day at 5 a.m., the three Méndez brothers — Miguel, 16, ...

Poverty in Venezuela has fallen to 50.5% amid the South American country's economic recovery, though income inequality continued to widen, according to a study by the National Poll of Living ...