Venezuela is close to default, with high debt load and plunging oil revenues. Bloomberg has named it as the world's most miserable economy. food staples and medicine are in short supply.
People continue to leave the troubled Latin-American country as the economic situation turns increasingly sour. Food shortages have become a part of everyday life.
Brazil's president-elect has said Venezuela should no longer be a member of the South American trade bloc. Two months before he takes office, Jair Bolsonaro has outlined economic reforms including a pension overhaul.
China's president, Xi Jinping, has met with his Venezuelan counterpart, Nicolas Mauro, in Beijing. Maduro is hoping to deepen ties and secure increased financial support from his Chinese ally.
Presidents Nicolas Maduro and Donald Trump both extended olive branches, saying they would be willing to meet. But Maduro also blamed the US for staging a drone attack against him and plotting his overthrow.
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