The Rasheed Griffith Show 40. Ghost Economy: What Now For Venezuela? - Parsifal D'Sola
Economic collapse, the largest native exodus in Latin American history, and border woes with Guyana. In this episode, we sit with political analyst Parsifal D'Sola to unravel the last three decades of Venezuela's tumultuous history and the path ahead for the embattled former juggernaut of South America.
Venezuela has fallen from its prized position as the most influential economy on the continent. Its financial influence is now only felt in the massive burden imposed by the mass migration of its citizens away from their homeland. 30% of the country has now fled, leaving all but a few cities like Caracas as centers of any viable economic activity.
While Parsifal acknowledges some stability being established, he also posits that this is mostly due to the country hitting rock bottom. After all, you can only go up from absolute ruin. The political landscape, now stunted by incumbent President Maduro is facing a slim chance of revival via María Corina Machado, who despite being banned from running, has named her alternate candidate Corina Yoris on a platform that poses a credible threat to the Maduro hegemony.
But what exactly has kept Maduro in power throughout Venezuela's precipitous decline? A cabal of business owners who have benefitted from nepotism may be a key cornerstone of the administration's continued existence. Alternate sources of income to prop up the ailing government and the legitimacy granted by close ties to Beijing also complicate any efforts to turn the country's political fortunes around. In this episode, we examine the current state of Venezuela and try to ascertain where the country could go from here.