Dec 24, 2017

Venezuela's dark Christmas

Mormons sing Christmas carols at Venezuela Square in Caracas. Photo: Fernando Llano / AP

Venezuela sits atop the world's largest oil reserves. But a crash in global crude prices, combined with incompetent government, has sent the economy into free fall and sparked social unrest.

No money for presents: "How hyperinflation stole Christmas in Venezuela," the WashPost reports in a front-pager. "Just before Christmas, the world's worst inflation crisis in nearly a decade was escalating — bringing a country of nearly 32 million, once Latin America's richest per capita, to its knees."

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