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.
Spain's King Juan Carlos and Venezuela's President Hugo Chavez made headlines last week when the Spanish King told Chavez to "shut up" at a leadership summit. Actually he used a few more words than that, and as The World's Clark Boyd reports, those words have taken on a life of their own in cyberspace.
Anchor Lisa Mullins speaks with the BBC's James Ingham for the latest on the crisis involving Ecuador, Venezuela, and Colombia, as Venezuela said today that its deployment of troops to the border with Colombia is nearly complete now,
Anchor Lisa Mullins speaks with the BBC's James Ingham in Caracas about a joint venture by Venezuela and Iran: the two oil producers are joining forces to produce bicycles in government-run, socialist factories.
Presumptive Democratic nominee for president, Barack Obama, has called for direct diplomacy with friend and foe alike, and among the foes of the Bush administration is Hugo Chavez, President of Venezuela;
For the past ten years, the U.S. military has run anti-drug surveillance operations from a military base in Ecuador, but the lease is set to expire next year and Ecuador's government wants the U.S. to leave
Venezuelan President Hugo Chavez says he hopes relations between his nation and Washington will improve after George W. Bush leaves office, but, as The World's Lorne Matalon reports, that won't be easy.
Anchor Marco Werman speaks with U.S. Ambassador to Bolivia Philip Goldberg, who was expelled by the South American country a few days ago. The Bolivian government accused him of encouraging violent anti-government protests.
Venezuela's president is the focus of an upcoming PBS Frontline documentary. It's called "The Hugo Chavez Show." And it features excerpts from "Al Presidente!" -- the TV program that Chavez hosts every week.
The answer to today's Geo Quiz is Petty Island, a small island in the Delaware River between Pennsylvania and New Jersey. It's been owned for years by the oil company CITGO, which is owned by the Venezuelan government. Now Venezuela wants to hand ownership of the island over to New Jersey. Anchor Katy Clark gets details from the BBC's Carlos Chirino.
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