Venezuela's Economic and Political Crisis

Venezuela, once prosperous, faces severe economic and political turmoil under President Nicolas Maduro. The country suffers from hyperinflation, high crime rates, and a collapsing economy. Maduro has consolidated power, moving towards authoritarianism, despite widespread protests and international condemnation. His predecessor, Hugo Chavez, left a mixed legacy of social programs and economic dependency on oil. The current crisis is exacerbated by a manipulated currency system and military control over resources, further entrenching Maduro's rule.

What was Venezuela once known for in Latin America?

• Its tourism industry

• Its large population

• Its technological advancements

• Its oil reserves and wealth

What sparked the protests against President Nicolas Maduro?

• High inflation and economic decline

• Military coups

• Foreign intervention

• Natural disasters

What did Maduro do in response to the opposition winning a majority in the National Assembly?

• He called for new elections

• He increased social welfare programs

• He resigned from his position

• He forced out Supreme Court justices and filled positions with loyalists

How did Hugo Chavez gain popularity among the poor in Venezuela?

• By blaming government corruption and the elite for economic inequality

• By increasing military spending

• By promoting tourism

• By reducing taxes

What was a key moment in Chavez's presidency that boosted Venezuela's economy?

• The establishment of new trade agreements

• The reduction of national debt

• The surge in oil prices in 2004

• The discovery of new oil reserves

What happened to Venezuela's economy after Chavez's death and Maduro's rise to power?

• It continued to grow steadily

• It collapsed due to falling oil prices

• It diversified into new industries

• It became a major tourist destination

How did Maduro's currency policies affect the Venezuelan economy?

• They led to hyperinflation and a worthless currency

• They made the currency stronger

• They increased foreign investments

• They stabilized the economy

What role did the military play in Venezuela's economic crisis?

• They increased oil production

• They reduced inflation

• They profited from the currency crisis by selling food on the black market

• They helped distribute food fairly

What was the international community's reaction to Maduro's recent election for the National Constituent Assembly?

• They supported it

• They remained neutral

• They offered financial aid

• They condemned it and imposed sanctions

What was one of the actions taken by Maduro's new assembly after the controversial election?

• They increased social welfare programs

• They improved the healthcare system

• They called for new presidential elections

• They removed the attorney general and arrested opposition leaders