BBC on Nostr: Venezuela's economy runs on oil - and music ========== Venezuela's economy is heavily ...
Venezuela's economy runs on oil - and music
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Venezuela's economy is heavily dependent on oil, but its recent economic policies have not addressed the underlying structural problems. President Nicolás Maduro is hoping to win the presidential election and convince voters that the country has turned the corner after years of strife. However, opponents are pinning their hopes on a change of leader to revive the economy. The country's oil production has plummeted in recent years, and GDP has declined rapidly. The economy has been stabilized through informal dollarization, but this has led to a two-tier economy, with those paid in bolívars feeling increasingly excluded. Venezuela also faces a massive foreign debt of around $150 billion. The outcome of the election will have a significant impact on the country's future and its ability to restructure its debt.
#Venezuela #Economy #PresidentialElection #OilIndustry #Hyperinflation #Dollarization #ForeignDebt
https://www.bbc.com/news/articles/c51y9r0jgxno
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Venezuela's economy is heavily dependent on oil, but its recent economic policies have not addressed the underlying structural problems. President Nicolás Maduro is hoping to win the presidential election and convince voters that the country has turned the corner after years of strife. However, opponents are pinning their hopes on a change of leader to revive the economy. The country's oil production has plummeted in recent years, and GDP has declined rapidly. The economy has been stabilized through informal dollarization, but this has led to a two-tier economy, with those paid in bolívars feeling increasingly excluded. Venezuela also faces a massive foreign debt of around $150 billion. The outcome of the election will have a significant impact on the country's future and its ability to restructure its debt.
#Venezuela #Economy #PresidentialElection #OilIndustry #Hyperinflation #Dollarization #ForeignDebt
https://www.bbc.com/news/articles/c51y9r0jgxno