Regional Spotlight: Venezuela on the Brink – IMF to the Rescue?

Date and time

Venezuela is a country in crisis. Though Venezuela quite possibly houses the largest crude-oil reserves in the world, cheap oil prices, high public-spending, and mismanagement have led to economic ruin. In recent years, the country has faced soaring inflation, plummeting employment, and empty grocery stores and pharmacies. Political tensions have sparked violent clashes between protesters and police, creating further chaos. Even though there have been strained ties between Venezuela and the International Monetary Fund in recent years, the IMF is monitoring the situation closely, gathering information, and projecting scenarios for possible financial developments in Venezuela. Given the political and economic complexity of the Venezuelan situation, and the profound effects that debt default could have on regional stability, how should the international financial institutions and global community respond?

  • Meg Lundsager, Public Policy Fellow, Wilson Center
  • Francisco Toro, Executive Editor, Caracas Chronicles
  • Moderator: Robert Kahn, Adjunct Professorial Lecturer, School of International Service,
    American University