Anger, opposition against Venezuela gov’t grows as recession causes more hardships

CCTV News

Anger, opposition against Venezuela gov’t  grows as recession causes more hardships  1

Anger is on the rise in Venezuela, as the steepest recession in the world, shortages of basic goods and a crumbling infrastructure exhausts the population.

CCTV America’s Stephen Gibbs reports.

Anger, opposition against Venezuela gov’t grows as recession causes more hardships

Anger, opposition against Venezuela gov’t grows as recession causes more hardships

Venezuela has raised the minimum wage by 30 percent, the latest move by the government as it struggles against soaring inflation, power outages and widespread shortages.

Venezuela has raised the minimum wage by 30 percent, the latest move by the government as it struggles against soaring inflation, power outages and widespread shortages.

The oil-exporting country’s sharp economic downturn is leading to increasingly bitter disputes between the government and opposition.

Rolling blackouts are in place across the country – a combination of a severe drought and insufficient investment means the country’s hydroelectric power is running out.

Civil servants are now working a two-day week. The nation has even moved its clocks forward 30 minutes to conserve energy. Inflation, meanwhile, is running at an annualized rate of almost 500 percent.

President Nicolas Maduro, while not the most unpopular leader in South America, is blamed for much of these problems. Almost 70 percent of Venezuelans think he should resign.

The opposition says it has collected more than two million signatures to initiate a referendum on whether to cut short his term, which is due to end in 2019.


Diego Arria discusses the economic crisis in Venezuela

For more on the recessions and economic situation in Venezuela, CCTV America Asieh Namadar spoke with Diego Arria, former Venezuelan Permanent Representative of Venezuela to the United Nations.

Diego Arria discusses the economic crisis in Venezuela

Diego Arria discusses the economic crisis in Venezuela

For more on the recessions and economic situation in Venezuela, CCTV America Asieh Namadar spoke with Diego Arria, former Venezuelan Permanent Representative of Venezuela to the United Nations.