Times are really tough in Venezuela these days. The National Guard has moved in, Coca-Cola production has shut down, and runaway inflation is seen everywhere across the South American country. President Nicolas Maduro is hoping for another loan from China or from any other creditor to keep Venezuela afloat for a little longer.
The oil-rich country has watched its economy slip away, as oil prices plunge further, and expert Danilo Diaz Granados believes that inflation could hit 500 percent. According to News.com.AU, it’s sad to imagine a country with so many natural resources hit bottom, but with such dramatic crumbling to Venezuela‘s finances, there’s no way to go but down. That is why the country’s residents are hit with huge shortages of food, basic necessities and electrical power. Toss in decades of corruption and financial mismanagement, and Venezuela is experiencing some of the worst times ever.
Unemployment has soared to 17 percent, poverty is widespread, and people are dying, because food and medicine are not readily available. “It is difficult for many to sit by and witness” added Diaz Granados.
Even U.S. companies are struggling with the country, and Coca-Cola has recently shut down production of all sugar-based beverages due to raw materials lacking. Until the sugar supply returns, Coke’s Venezuela operations will only continue to produce zero-sugar drinks like water and Coca-Cola Light in the South American country.
The entire world continues to watch and wait Venezuela’s fate.