venezuela crisis
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Since 2014, the UN has documented that at least 2.3 million have fled Venezuela in search of a better life. Whether these people should be classified as migrants or refugees is a discussion in itself. A migrant chooses to move and a refugee is forced to move. One could argue that in Venezuela’s case there is a mixture of both, painting the issue less black and white.
As of November 2018, between 2.4 million and 4 million Venezuelans were documented to live abroad. According to estimates, 5,000 people continue to abandon Venezuela every day. By applying simple math, it is feasible to project that within a year an additional 1.8 million Venezuelans will migrate abroad, pushing the exodus total between 4.2 million and 5.8 million Venezuelans fleeing the oppressive Maduro regime.
Sadly, and shocking at the same time, Venezuela is not too far from that troubling distinction. In fact, the exodus in Venezuela has probably surpassed similar diaspora in Afghanistan and South Sudan—since 2013 and beyond.
So how bad is it in Venezuela? Reports from journalists document that certain cities are essentially zombie towns, resembling the hit TV series The Walking Dead, where shattered people walk along the streets malnourished, sick, yearning in any possible manner to find food, basic medicine, antibiotics, toilet paper, diapers—much less basic human rights such as safety, security, and freedom of speech. This is what happens when an economy is in total chaos, destroyed by the naiveté of a controlled economy, price controls, and the nationalization of private industries (raw socialism) and its poisonous venom against free markets, individual liberty, and the dignified pursuit of happiness and freedom.
But before we hear resistance from those claiming that we should respect Venezuela’s sovereignty coupled with the shallow argument that the Venezuelan crisis, diaspora, and precarious instability must be solved by Venezuelans themselves, imagine if the U.S applied the same school of thought during World War I and World War II. In this instance, isolationism isn’t the answer; as the proverb so wisely states no man or woman is an island…well the same philosophy can be applied to nation states.
The stakes are high in Venezuela. A country that once believed in democracy has morphed into a repressive regime. A country that was considered one of the top 10 richest countries in the 1950s, an example of stability and opportunity in Latin America is now mired with inflation exceeding 1.7 million (per The Economist), a GDP that has been sliced and diced by half (50%) in a rapid fashion, a country that was once the 20th happiest country as recent as 2013 (according to the World Happiness Report) is now experiencing a total annihilation of health care services where babies are deprived of basic nourishment and the child mortality rate has skyrocketed to alarming figures. For what is worth, these days Venezuela ranks 102nd on that same happiness report (2018).
Amazingly, there is a glimmer of hope in Venezuela. The alternative shaped in the National Assembly leader, Mr. Guaido, is the answer for Venezuela’s short-term future. Several Latin American countries, the majority of Western Europe, and the U.S. are on the side of democracy and free and fair elections by declaring Mr. Guaido as the legitimate leader of Venezuela until new free and fair elections are held. This is the right course of action, not just for the sake of politics, but for compassion and humanity in Venezuela.
Just a few days ago, the illegitimate Venezuelan President Mr. Maduro blocked the much-needed humanitarian aid such as food and medicine from entering the borders of Venezuela. In response to this horrid gesture, U.S. Senator Marco Rubio described the Maduro regime not as a government but a criminal enterprise. Senator Rubio is correct. It is now clear that Venezuela is no longer being led by politicians. Sadly, the country is now being governed by thugs, criminals, and narcos.
Oscar Montealegre is a senior financial analyst based in California, United States. He is also a senior financial correspondent with Diplomatic Courier magazine.