BACKGROUND
Venezuela is undergoing a series of protests because of economic, political and social reasons.
Venezuela was under the rule of Hugo Chavez for 14 years, during which the government saw huge economic progress and socio-economic quality. His death in 2013 changed things like never before !
Since the election of the new president, Nicholas Maduro, Venezuela has seen a series of changes , a huge rise in inflation, lack of day to day requirements like toilet paper and milk. The crime rates have also risen to an astounding level and has become the cause of fury among the people. Instead of working on the current economic condition, the government has come down heavily on the protestors, and this has also led the death toll to above 29.
ECONOMIC CRISIS
Protests are also related to finance issues of Venezuela. The government is controlling the prices and that has made the inflation officially to 60 %. Unofficial sources claim that the real number would be much higher, as high as 300 %.
Exchanging money is forbidden unless you are travelling abroad. This makes people to book flight tickets so they get a permission to change bolivar to US dollars so it would remain its value. After that people cancel the flights so airliners are flying with empty planes. This has led to companies to cancel the flights and demanding refund.
Some big global companies, such as General Motors and Toyota have stopped importing to Venezuela because of the unpaid debts. Altogether Venezuela has debts more than 10 Billion US dollars to several companies.
Government has also denied to give any money to health care. Hospitals do not have medication and they cannot buy more equipments. There are more than 3000 people waiting for surgery.
Venezuela citizens cannot afford daily supplies such as toilet paper or even food.
Venezuela is undergoing a series of protests because of economic, political and social reasons.
Venezuela was under the rule of Hugo Chavez for 14 years, during which the government saw huge economic progress and socio-economic quality. His death in 2013 changed things like never before !
Since the election of the new president, Nicholas Maduro, Venezuela has seen a series of changes , a huge rise in inflation, lack of day to day requirements like toilet paper and milk. The crime rates have also risen to an astounding level and has become the cause of fury among the people. Instead of working on the current economic condition, the government has come down heavily on the protestors, and this has also led the death toll to above 29.
ECONOMIC CRISIS
Protests are also related to finance issues of Venezuela. The government is controlling the prices and that has made the inflation officially to 60 %. Unofficial sources claim that the real number would be much higher, as high as 300 %.
Exchanging money is forbidden unless you are travelling abroad. This makes people to book flight tickets so they get a permission to change bolivar to US dollars so it would remain its value. After that people cancel the flights so airliners are flying with empty planes. This has led to companies to cancel the flights and demanding refund.
Some big global companies, such as General Motors and Toyota have stopped importing to Venezuela because of the unpaid debts. Altogether Venezuela has debts more than 10 Billion US dollars to several companies.
Government has also denied to give any money to health care. Hospitals do not have medication and they cannot buy more equipments. There are more than 3000 people waiting for surgery.
Venezuela citizens cannot afford daily supplies such as toilet paper or even food.
EFFECTS
The first violence began on February 12th that there was a huge opposition protest in the capital city, Caracas. The problem was the regime’s brutal response to opposition protests. That day, 3 people were killed and arrest warrant issued for opposition leader.
You can check out what happened in Venezuela with the youtube video uploaded on February 13th.
After the first protest which accompanied the wild violence, pro and anti government protestors have kept asserting each other's voices until these days.
FOREIGN POLICY
The ruling party of Venezuela called PSUV has governed the nation for more than 15 years since Hugo Chavez's election in 1999.
Since then, relations between Cuba and Venezuela have significantly improved and it was totally opposite for U.S
In the case of Cuba, the relation includes development aid, joint business ventures, large financial transactions, exchange of energy. Both nations are delivering assets of high significance for the receiving country
As for U.S, Hugo Chaves was highly critical of US. He even described US as a false democracy of the elite. On 2008, US put Venezuela on a list of countries accused of supporting terrorism.
As a result, under the support of U.S, opposite party could keep fighting against government, and with the aid of Cuba, ruling party is trying to protect their own things.
Since then, relations between Cuba and Venezuela have significantly improved and it was totally opposite for U.S
In the case of Cuba, the relation includes development aid, joint business ventures, large financial transactions, exchange of energy. Both nations are delivering assets of high significance for the receiving country
As for U.S, Hugo Chaves was highly critical of US. He even described US as a false democracy of the elite. On 2008, US put Venezuela on a list of countries accused of supporting terrorism.
As a result, under the support of U.S, opposite party could keep fighting against government, and with the aid of Cuba, ruling party is trying to protect their own things.
EDITORS
Hi , we are a group of undergraduate students presenting on the current protests in Venezuela
TEAM MEMBERS
1) Mikko Eronen
2) Heejae Chung
3) Manisha
Hi , we are a group of undergraduate students presenting on the current protests in Venezuela
TEAM MEMBERS
1) Mikko Eronen
2) Heejae Chung
3) Manisha
REFERENCES
1) http://www.bbc.com/news/world-latin-america-26552479
2) http://en.wikipedia.org/wiki/Foreign_relations_of_Venezuela
3) http://www.bbc.com/news/world-latin-america-26599340
4) http://www.bbc.com/news/world-latin-america-26588528
5) http://www.bbc.com/news/world-latin-america-26474424
6) http://www.bbc.com/news/world-latin-america-26346982
7) http://www.reuters.com/article/2014/03/15/us-venezuela-protests-idUSBREA2E0R520140315
8) http://finance.fortune.cnn.com/2014/03/14/venezuela-protests-inflation/
2) http://en.wikipedia.org/wiki/Foreign_relations_of_Venezuela
3) http://www.bbc.com/news/world-latin-america-26599340
4) http://www.bbc.com/news/world-latin-america-26588528
5) http://www.bbc.com/news/world-latin-america-26474424
6) http://www.bbc.com/news/world-latin-america-26346982
7) http://www.reuters.com/article/2014/03/15/us-venezuela-protests-idUSBREA2E0R520140315
8) http://finance.fortune.cnn.com/2014/03/14/venezuela-protests-inflation/