Venezuela’s collapse is the worst outside of war in decades, economists say | World News, The Indian Express

Venezuela’s collapse is the worst outside of war in decades, economists say | World News, The Indian Express

By New York Times |Maracaibo |Published: May 18, 2019 10:00:45 am

Venezuela’s collapse is the worst outside of war in decades, economists say

To find similar levels of economic devastation, economists at the IMF pointed to countries that were ripped apart by war, like Libya earlier this decade or Lebanon in the 1970s.

Men searching for refuse that can be salvaged or recycled along a street in Maracaibo, Venezuela. As the country’s has economy plummeted, armed gangs have taken control of entire towns, public services have collapsed and the purchasing power of most Venezuelans has been reduced to a couple of kilograms of flour a month. (Meridith Kohut/The New York Times)

Written by Anatoly Kurmanaev