How did Venezuela enter into a crisis? And what is the way out?

Abstract

Venezuela is going through a serious political crisis, a direct result of a long-term economic collapse, according to a report published by the French magazine L'Capital. The following are the reasons for the desperate economic situation of the country, and the means that Caracas can adopt in order to control the situation. And according to the director of economic studies at the French Institute of Scientific Economics and Management Eric Dore, the crisis in Venezuela is “exceptional in terms of its scale and its humanitarian and demographic impacts on the country.” Both, as the country suffers from massive emigration, because its population suffers from hunger and is deprived of medicines.” In addition to the serious shortage of basic necessities, Venezuelans also face difficulties related to the field of oil, which is the main source of the country's resources.