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Venezuela

The Resource Curse

In Venezuela, desperate conditions turn worse

by Scott Tong
Jul 19, 2016
Inflation roars while the country runs out of food and other necessities
Venezuelans cross the Simon Bolivar bridge linking San Antonio del Tachira, in Venezuela with Cucuta in Colombia, to buy basic supplies on July 17, 2016. Thousands of Venezuelans again poured into the Colombian city of Cucuta on Sunday, profiting from the brief reopening of a long-closed border to buy food and medicine. 
GEORGE CASTELLANO/AFP/Getty Images
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Food riots and ransacking break out as Venezuelans voice anger

by Kai Ryssdal
Jun 20, 2016
The country’s reeling economy has led many to go hungry
A woman with a sign reading 'We starve' protests against new emergency powers decreed this week by President Nicolas Maduro in front of a line of riot policemen in Caracas on May 18, 2016. Public outrage was expected to spill onto the streets of Venezuela Wednesday, with planned nationwide protests marking a new low point in Maduro's unpopular rule. 
FEDERICO PARRA/AFP/Getty Images
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The Resource Curse

Venezuela's economic crisis spurs food riots and looting

by Marketplace Staff
Jun 20, 2016
Another sign of the resource curse: following the country's state of emergency declaration, conditions worsen.
Fading Chavez graffiti.
Jorge Galino/Marketplace
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The OPEC haves and have nots

by Scott Tong
Apr 19, 2016
Some oil-producing nations are in dire financial condition because of low oil prices
Qatar's Minister of Energy and Industry Mohammed Saleh al-Sada (R),Saudi Arabia's minister of Oil and Mineral Resources Ali al-Naimi (C), Venezuela's minister of petroleum and mining Eulogio Del Pino (L) attend a press conference on February 16, 2016 in the Qatari capital Doha.
OLYA MORVAN/AFP/Getty Images
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The Resource Curse

Oil pushes out Venezuela's agriculture

by Scott Tong
Apr 18, 2016
A strong currency pushed up by oil exports, and national price controls, have marginalized once strong economic sectors
Egg-producing hens at a farm in Venezuela.
Jorge Galino/Marketplace
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The Resource Curse

A bad mix for Venezuela: oil and Chavez

by Scott Tong
Apr 12, 2016
The socialist president used oil revenue to buy support for his regime and now the country is suffering for it
Another barrio mural of Chavez. 
Jorge Galino/Marketplace
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The Resource Curse

In struggling Venezuela, cheap gas and food are smuggled out

by Scott Tong
Apr 11, 2016
Gas is so cheap that it can be sold at a profit in neighboring Colombia.
Long lines formed outside a Venezuelan gas station.
Jorge Galino/Marketplace
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The Resource Curse

How oil-rich Venezuela ended up with a miserable economy

by Scott Tong
Apr 5, 2016
A history of the Latin American country's resource curse.
Street art depicting the oil fields of Venezuela. 
Jorge Galino/Marketplace
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The Resource Curse

In oil-bust Venezuela, buying diapers on the black market

by Scott Tong
Apr 4, 2016
A journalist with a baby visits his diaper connection.
The barrios of Venezuela. 
Scott Tong/Marketplace
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The Resource Curse

A day out at the (black) market in Venezuela

by Scott Tong
Mar 23, 2016
Low oil prices and government actions created shortages and soaring inflation
Jorge Galino/Marketplace
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