Venezuela is located on the northern coast of South America. The world's largest oil reserves were discovered in the early 20th century.
The recovery of oil prices in the early 2000s gave Venezuela an economic boost. The government of Hugo Chavez in Caracas then established populist policies that initially boosted the economy and increased social spending, significantly reducing economic inequality and poverty. These policies later became controversial since they destabilized the nation's economy, resulting in hyperinflation, an economic depression and a drastic increase in poverty. Here you can find an automatic compilation of all DW content on Venezuela.
Juan Guaido, who has been recognized as interim president of Venezuela by about 50 countries, is currently in Europe. Opposition lawmakers said that agents from the country's SEBIN intelligence unit raided his offices.
Venezuelan opposition leader Juan Guaido and a former ally have staked rival claims to the parliamentary speaker post. The National Assembly is the sole institution outside the hands of President Maduro's Socialists.
In the past year, unrest in Latin America has made the headlines, as well as the huge cleft between rich and poor, and dissatisfaction with the government. The reasons might be different in every country, but they all have one problem in common: their faltering economies.
On this week’s program we take stock of the situation in Chile where President Pinera has been making some concessions in a bid to stem the country’s fledgling protest movement. And amid claims that US sanctions on Venezuela have resulted in the death of at least 40,000 people we’ll also be taking a closer at just how the international sanctions are impacting on Venezuelans.