The article explores into Venezuela’s Macroeconomic Crisis from 2015 to 2019, a period marked by catastrophic economic collapse. It outlines the causes, including overreliance on oil, mismanagement of oil revenues, hyperinflation, and sanctions. The crisis led to hyperinflation, food and medicine shortages, mass migration, and business closures, impacting Venezuelans and neighboring countries. Geopolitically, it pitted major powers against each other, with the U.S. supporting opposition leader Juan Guaidó and Russia and China supporting the Maduro government. The crisis highlighted the need for international cooperation and responsible governance to prevent such tragedies. Businesses and investments suffered from expropriation, operational difficulties, job losses, and supply chain disruptions. Recovery remains challenging, emphasizing the lasting effects of this crisis.
1.Venezuela experienced hyperinflation rates reaching over 1,000,000% annually during this period, rendering the national currency nearly worthless. The rapid depreciation of the bolivar led to soaring prices, scarcity of basic goods, and a severe erosion of purchasing power for the population.