GLOBAL PERSPECTIVES
Corruption Lies at the Heart of Venezuela's Chaos

Jul 25, 2019 | 10:00 GMT

Numerous people wearing caps in the colors of the Venezuelan flag take part in a protest against the government of President Nicolas Maduro on Venezuela's day of independence. Graft lies at the heart of Venezuela's unraveling.
(RAFAEL BRICEÑO SIERRALTA/NurPhoto via Getty Images)
Highlights
- Venezuela is suffering from unique humanitarian, economic and institutional crises, but the common root of all three problems is the country's widespread corruption.
- Officials in President Nicolas Maduro's government have absconded with billions of dollars from the public budget by abusing the official exchange rate.
- As the links between the humanitarian disaster and graft become more evident, it will increasingly become harder to stabilize Venezuela in the long run.
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