Post
Topic
Board Economics
Re: Venezuela hit by new nationwide powercut for more than three days
by
Netnox
on 02/04/2019, 17:00:43 UTC
When Chavez was the president of Venezuela, they were actually doing quite well. Medicare was free and gasoline was available at $0.1 per gallon. But Maduro proved to be really incompetent. He should just step down and take a flight to Cuba.

Maduro can go away and nothing will be fixed.
Without an increase in oil prices, Venezuela is the same as sub-saharian Africa.
There is no magic cure other than oil, the others are painful and will require years after years of reconstruction.

Please take a look here: https://www.nasdaq.com/markets/crude-oil-brent.aspx

The oil prices have already recovered and surprisingly it is having no positive impact on the Venezuelan economy. If I am not wrong, Venezuela earns around $140 million every day from the exports of crude (at this price).