Venezuela’s recent economic history (Update)
4 January - 22 mins
Podcast Series
Planet Money
We’ve been checking in on the economic conditions in Venezuela for about a decade now. In response to the U.S. strike and the capture of Venezuelan president Nicolás Maduro this weekend, we’re re-surfacing this episode with an update.
The original version ran in 2016, with an update in 2024.
Back in 2016, things were pretty bad in Venezuela. Grocery stores didn’t have enough food. Hospitals didn’t have basic supplies, like gauze. Child mortality was spiking. Businesses were shuttering. It was one of the epic economic collapses of our time. And it was totally avoidable.
Venezuela used to be a relatively rich country. It has just about all the economic advantages a country could ask for: Be...
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