The Bolivarian Republic of Venezuela is passing through the deadly economic turned humanitarian crisis. Venezuela's mix of political, economic and humanitarian crisis is now at its peak. This cancerous situation was resulted after the oil price collapse since 2014. Adding fuel to the fire, Maduro-led government adopted inappropriate economic policies to finance huge budgetary deficit. Internal instability: The hyperinflation of around 100,000 per cent as of August 2018, which can not bearable by any country, has been literally brandishing awfully the Venezuelan economy and Venezuelans. According to IMF, the inflation in the once South America's one of the wealthiest countries is supposed to touch one million per cent by the end of 2018. (www.forbes.com/sites/stevehanke/2018/07/31). The inflation rate has been surging phenomenally ever since the beginning of collapse of the oil-dependent economy with steep fall in international crude oil prices and oil exports since 2014. T...
Assistant Professor of Economics, M.E.S. Mampad College (Autonomous), Kerala, India