What went wrong in Venezuela?
Updated 2048 GMT (0448 HKT) August 2, 2016
Chat with us in Facebook Messenger. Find out what's happening in the world as it unfolds.
(CNN)From Caribbean beaches to snow-capped mountains, the country has it all. It has the largest proven oil reserves in the world. Many in a thriving professional class left the country when Hugo Chavez took power in 1999, but the early years of his rule saw a massive reduction in poverty, more children in school, and greater access to clean drinking water.
Plummeting oil prices
No dollars for imports
World's highest inflation rate
So what does it feel like?
- Shortages of food and home staples like milk, flour and toilet paper
- Shortages of medicine
- Rolling blackouts
- Rising unemployment
- Soaring violent crime
- Even malaria, once almost eradicated, is back on the rise.