🧵🧵Venezuela has been mired in a serious economic crisis for years. In this infographic we shed some light on this complex topic, as an oil price crash and deadly US sanctions created a perfect storm that has imposed tremendous hardships on the Venezuelan people #SanctionsKill
📉The economic downturn has seen Venezuelan GDP contract by more than two-thirds. The recession was triggered by the 2014 fall in oil prices and later compounded by wide-reaching unilateral coercive measures by Washington and its allies which also blocked any solutions
📈High inflation has been a constant in recent years, mostly fueled by currency speculation. The Maduro government has managed to slow down the devaluation-inflation spiral in the past few months, but with sanctions in place recovery or even stability remain an uphill battle
💸The crisis has led to a dramatic fall in imports, leading to scarce or overpriced staples such as food and medicine for the Venezuelan majority. Shut out of financial markets and with little room to maneuver, the government has also seen its reserves diminish quickly
🇻🇪The Venezuelan poor and working-class have borne the brunt of the economic struggles, always finding ways to organize and resist. At the same time, the Caribbean nation has been hit by a dramatic brain drain that has handicapped strategic sectors such as the oil industry
We can debate the government’s policies, we can argue that the recession began before the worst sanctions. But the fact is that Washington has set the Venezuelan economy on fire and blocked the exits in its attempts to overthrow the Bolivarian Process. #HandsOffVenezuela
To view, download and share the infographic in one piece follow the link below. This work was borne out of our exciting collaboration with @utopix_cc's Kael Abello
venezuelanalysis.com/images/15339
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