Venezuelas Crisis

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Venezuelas Crisis

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The food and economic crisis in Venezuela has gotten worst since the years have progressed because of their horrible president. Venezuelans reported losing on average 24 lbs in body weight last year and almost 90 percent now live in poverty. Over 60 percent of Venezuelans have said that during the previous three months they have woken up hungry because they did not have enough money to buy food. Venezuela along with South America was once the largest oil reserves in the world leading them to be the  richest nations. However, with a fall in oil prices and other economic issues, it has turned into one of the poorest nations. Unfortunately, the country owes over $150 million to Indian pharmaceutical companies, but its central bank does not have a  hard currency left to sell and suspects up to $2.5 billion of its currency reserves were illegal making any debts unpayable.