Question

In: Economics

What are the chances of the people of Venezuela protesting rising prices? Would you ever protest...

What are the chances of the people of Venezuela protesting rising prices?

Would you ever protest rising prices in the United States

Solutions

Expert Solution

More than 200,000 Venezuelans took to the streets to mark the 50th day of protests against President Nicolas Maduro, as the country struggles with dire food shortages.

Clashes broke out in the eastern district of Caracas, the Venezuelan capital, as protesters hurled Molotov cocktails and rocks at police, who responded with tear gas.

Mr Maduro's critics say he is to blame for the country's crippled economy, which has led to widespread protests, street looting and rioting over the past seven weeks, leaving at least 47 people dead.

Inflation soars as food and medicine supplies dry up

More than 40 protesters have been injured during the protests in Caracas alone, with one woman reportedly mowed down by a car and another engulfed in flames after a police motorbike exploded.

In the western city of San Cristobal in Tachira state, Mr Maduro deployed around 2,700 soldiers to quell the violence after 40,000 people took to the streets.

With supplies of food, medicine, soap and even toilet paper run out, protesters are demanding early elections to remove Mr Maduro, who took over the from Hugo Chavez in 2013.

Inflation rates are also soaring, with prices set to rise by 720 per cent this year, according to the International Monetary Fund (IMF.)


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