Venezuelan President Nicolás Maduro's political alliance claimed a sweeping victory Monday in congressional elections boycotted by the most influential opposition politicians and widely criticized internationally as being fraudulent.
Venezuela is a textbook case of the "resource curse," with nearly 90 percent of its population living in poverty in the country with the world’s largest oil reserves. After decades of leaders who failed to harness this commodity for peace and prosperity, it is questionable whether a new government can do a better job.
Oil accounts for 95 percent of Venezuelan exports. It's became even more critical when the Trump administration blocked US revenue to a subsidiary of Venezuela's state oil company in a bid to force Venezuelan President Nicolás Maduro from office.
Even by the volatile and violent standards of recent times in Venezuela, 2017 was an exceptional year, a “perfect storm” of political and economic crisis. Take a look back at 2017 with these remarkable photos.
Under pressure, Venezuela's top court reversed its decision to strip the legislature of its power. But to government critics the case was clear: They say judges loyal to President Nicolas Maduro attempted to set the stage for one-man rule.
The story you just read is freely available and accessible to everyone because readers like you support The World financially.
Thank you all for helping us reach our goal of 1,000 donors. We couldn’t have done it without your support. Your donation directly supported the critical reporting you rely on, the consistent reporting you believe in, and the deep reporting you want to ensure survives.