What is the exact problem in Venezuela?Venezuela is a country in South America and is having a large amount of crude oil reserves and whenever crude prices increase it is benefitted immensely.
Unfortunately, inspite of such a great gift of nature, Venezuela is struggling hard to keep a control on its hyperinflation and shortage of day to day staple foods and other items.
For last few years, Venezuela is trying hard to manage the shortage of food and medicines but situation is deteriorating fast and now many many people are leaving the country and moving to Colombia and Ecuador, the nearby countries. These people are desperate to get some shelter and work for their livelihood and many of them are simply begging for their daily meals.
This is an example of bad governance in a country that inspite of being oil rich it could not sustain the growth and development.
What are the views of the members on this international scenario?