Former intelligence contractor Edward Snowden, who is accused of leaking documents detailing an NSA surveillance program, is likely headed to Latin America, where several countries have offered him asylum. So what is the economic situation in each of these countries?
Stephen Keppel, who covers economics for Univision, joins Marketplace’s Mark Garrison to discuss.
GDP: $402.1 billion
Unemployment rate: 8%
Population below poverty line: 31.6%
Keppel’s take: “The Venezuelan economy is a mess. Growth is near zero. There is still some instability after the election. Inflation is near 30 percent. It would be tough.”
GDP: $54.36 billion
Unemployment rate: 5.5%
Population below poverty line: 49.6%
Keppel’s take: “Bolivia is a much smaller economy [than Venezuela]. It’s still one of the poorest countries in Latin America, however, it’s had pretty steady and stable growth. This is mainly because it still has a pretty booming oil and mining industry. Aside from that, there’s not a whole lot else, so I don’t know what type of job prospects Snowden would have.”
GDP: $20.04 billion
Unemployment rate: 7.4%
Population below poverty line: 42.5%
Keppel’s take: “Nicaragua is another poor country, one of the poorest in the region. However, we are seeing growth around 4 percent. It’s a little bit less authoritarian perhaps than Venezuela. So there is a few opportunities in Venezuela for perhaps a little bit more of a laid back lifestyle. It’s got some really nice property. It’s inexpensive. A lot of the Americans that were going to Costa Rica [to retire] are spilling over into Nicaragua.”
Final Score: Based on economics and quality of life, Keppel ranks Snowden’s options (1) Nicaragua, (2) Bolivia, and (3) Venezuela.
Source: CIA World Factbook.
Marketplace is on a mission.
We believe Main Street matters as much as Wall Street, economic news is made relevant and real through human stories, and a touch of humor helps enliven topics you might typically find…well, dull.
Through the signature style that only Marketplace can deliver, we’re on a mission to raise the economic intelligence of the country—but we don’t do it alone. We count on listeners and readers like you to keep this public service free and accessible to all. Will you become a partner in our mission today?