Venezuela’s decline is now deeper than that of the Soviet Union after its breakup, and comparable only to Zimbabwe’s in the late 1990s, economists say
Venezuela’s economic collapse is among the world’s worst in recent history. The decline is now deeper than that of the Soviet Union after its breakup, and comparable only to Zimbabwe’s in the late 1990s, according to estimates from the Institute of International Finance, a Washington-based association of financial institutions.
The scale of the decline, resulting from poor policy decisions, economic mismanagement, and political turmoil, is like something one would only expect from extreme natural disasters or military confrontations,...
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