Tag: Maduro


The History of the Venezuelan Crisis: How Did We Get Here?

Less than fifty years ago, Venezuela was the richest country in Latin America. Hard to believe when dramatic inflation numbers and deadly protests have recurrently made the headlines over the past four months. During the Venezuelan crisis, more than 100 people have been killed in protests that started in April 2017, with thousands wounded and hundreds arrested. Tensions between the local population and President Nicolás Maduro’s autocratic government have increased. Venezuela faces a deadlock. But, how did we get here?

Venezuela’s current crisis started over two decades ago. For years, the country has become trapped in a downward spiral of corruption, poor leadership, and mismanagement of its most important resource: oil. Venezuela owns the largest reservoir of extra heavy oil in the world and is the world’s fifth largest oil exporter. A rewind of Venezuela’s economic and political history offers the best chance of understanding the crisis it faces today.

Latin American and European Populism: Expanding Horizons

Brexit and the election of Donald Trump have provided a rude awakening for many in Europe who had ignored the challenge of populism. As Europe braces itself for what will likely be a tumultuous future, considering other sources of valuable experience will become paramount.

In The Economist, Bello has recently pointed out the familiarity to Latin Americans of the type of populist nationalism espoused by the likes of Trump, with current techniques and narratives pulled straight from the “Latin American Manual”. However, and despite its rich populist history, the Latin American experience has often been overlooked. Those wishing to understand and counter in Europe and elsewhere would be wise to consider it.

Three lessons stand out. First, Latin America exemplifies the issues of a simplistic understanding of populism. Second, the region shows populism is persistent and more often than not has damaging consequences. Finally, Latin America has vast experience with post-truth politics, and confronting populism is impossible without tackling the post-truth politics that underpin it.