Contributor PerspectivesJul 25, 2019 | 10:00 GMTCorruption Lies at the Heart of Venezuela's Chaos
It's a humanitarian, economic and institutional crisis that has grabbed the world's attention. According to the United Nations refugee agency, more than 4 million Venezuelans left their country between 2015 and June 2019, seeking refuge in Colombia, Peru and Brazil. In the economic field, the International Monetary Fund projects that Venezuela's hyperinflation will reach a whopping 10 million percent this year. And in terms of institutions, the country has had two presidents since January: Nicolas Maduro, who is supported by the Venezuelan security forces but lacks diplomatic recognition from most of the West, and Juan Guaido, who enjoys Western international support but lacks local military support.
But lost amid Venezuela's dire crises is the underlying cause that is fueling the country's chaos: corruption. Deeply ingrained at all levels of Maduro's government, corruption is devouring Venezuela's wealth as it exacerbates the country's other problems and complicates the prospect that Venezuela will overcomeREAD MORE