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Special Collection

Venezuela’s crisis from global perspectives

Collection launched: 20 May 2020
Venezuela faces the worst economic crisis in its recent history, with a deep recession, hyperinflation and scarcity that have skyrocketed poverty levels, triggering a massive migratory outflow. The internal political situation is at deadlock as the government of Nicolás Maduro rules without real constitutional mandate, while it represses dissent and disqualifies political opponents from elections. The country’s crisis is no longer solely circumscribed to the national sphere. Oil production has plummeted, taking away over 2 million barrels of oil per day from the global market. Approximately 3 million Venezuelans have fled to neighboring countries in an unprecedented migratory wage. Major western powers have imposed sanctions on government representatives and institutions. Emerging powers have also played a role in financially withstanding delays in debt repayments and have avoided direct action to pressure the Maduro regime to change its behavior. The crisis has become a regional and global problem. In this context, different multilateral, bilateral and individual initiatives have emerged to bridge domestic actors to carve out a solution. Both government and opposition have also leveraged foreign actors and institutions to further their interests domestically. In addition, emerging civil society actors within and outside Venezuela increasingly play a role in the deepening of the crisis or proposing solutions. Venezuelan migrants are becoming diffuse players in different regional settings. Some Venezuelan businesses have started to cooperate with the Maduro government and others remain fragmented in their opposition to it.