Introduction
Venezuela was once a country full of promise, it was rich in natural resources, had thriving cities, and a growing middle class. But today, it tells a very different story, millions of people struggle just to find food, medicine, and necessities simply to survive. Inflation has made money practically worthless, and speaking out against the government can mean arrest, exile, or possibly worse.
But the main reason for this terrible crisis is a government that simply refuses to hand over the power to the people. Over the years, elections have been surrounded by accusations of fraud, opposition leaders have been jailed, and the media has been turned into a government tool, spouting propaganda aimed at pushing along the government’s agenda. At the same time, economic mismanagement and an overreliance on oil have pushed the country further into financial disaster. Despite these overwhelming challenges, the people of Venezuela continue to fight for democracy and a better future, but real change won’t come easily in a system with a foundation of corruption
A Government That Won’t Let Go of Power
Venezuela’s political crisis didn’t happen instantly. Instead, it’s the result of years of broken promises, growing control, and a government that has slowly stripped away democracy brick by brick. What started as a populist movement meant to help lift the poor out of poverty eventually turned into a system where power was concentrated in the hands of the elite few.
In 1999, Hugo Chávez came into power with a bold vision, he promised to use Venezuela’s oil wealth to lift people out of poverty and create a fairer society, a more socialist society where the people had the means of ownership. At first, many believed in him, so his policies were extremely popular, and for a while, things seemed to be improving. But there was one big problem, the entire economy was built around oil. As long as oil prices were high, Venezuela thrived, but when prices fell, everything fell apart since there was no backup, and no economic diversity to soften the economic blow.
After Chávez died in 2013, his successor, Nicolas Maduro took over and tightened the government’s grip even further. The courts, the media, and the military all fell under direct
government control which enabled Maduro to have almost absolute control since he possessed all the key government functions. Inevitably, when protests broke out, security forces responded with unprecedented violence and utilized tear gas, rubber bullets, and arrests.
Things hit a boiling point in 2018 when the presidential election was widely seen as fraudulent with Maduro falsely claiming that he won. Many countries, including the U.S. and several European nations, refused to recognize the results. But the government ignored the criticism, staying in power by force. Today, anyone who dares to challenge those in control risks imprisonment or exile. To make these problems worse, the opposition remains divided, making it even harder to stand against such an entrenched system.
An Economy in Freefall
Not long ago, Venezuela was one of the richest countries in Latin America. Thanks to its massive oil reserves, the government was able to fund generous social programs, allowing healthcare, education, and infrastructure to be massively improved since oil prices were high, thus causing oil revenue to skyrocket. But instead of using that wealth to strengthen the economy, leaders became completely dependent on oil and Venezuela completely relied on oil exports to drive its economy. But, when prices eventually crashed in the early 2010s, the country had no backup plan which caused the economy to implode from failing oil revenue.
Rather than adjusting to the crisis, the government just made things worse significantly worse. In a desperate attempt to recover the economy & start paying off its debts, it started printing more money. But as a result, that led to hyperinflation and it was detrimental to the economy. At its peak, the inflation rate was over 100,000% which meant prices were rising so fast that people needed stacks of cash just to buy a loaf of bread. Sometimes, prices rose so fast that merchants had to alter prices multiple times in a single given day. Also, entire paychecks could be spent on only one loaf of spread & wheelbarrows were needed to transport the large amounts of cash for small amounts of produce.
Daily life soon became a living nightmare with store shelves empty, and hospitals running out of medicine. Even basic necessities like toilet paper became luxuries, and millions of Venezuelans made the heartbreaking decision to leave their homeland, to seek safety and opportunity internationally like in countries like the U.S.
Unfortunely, international sanctions only added fuel to the crisis, while they were meant to weaken the government’s power, they also hurt ordinary Venezuelans by limiting access to global trade/foreign investment. Today, while the economy has shown slight improvement, the damage runs still runs deep and for many, survival is still a daily struggle.
The Fight for Change
Despite everything they’ve faced so far, the Venezuelan people have not given up. Over the years, millions have taken to the streets and demanded democracy, free elections, and an end to rampant government corruption. But each time, the government has fought back with force, by arresting protesters and cracking down on dissent violently by utilizing military/police forces.
Luckily, In 2019, the opposition gained momentum when Juan Guaidó, the leader of the National Assembly, declared himself interim president. He argued that the 2018 election was fraudulent, which it was seen as, and according to Venezuela’s constitution, he had the legal right to take over. Seizing the opportunity to challenge Maduro’s power, the U.S., Canada, and many European nations backed him, and for a moment, the people felt like the nightmare may finally end.
But as time passed, hope faded since Guaidó struggled to unite the opposition, and without the military on his side, his movement lost momentum. In response to this attempted rebellion, those in power only tightened their grip to reinforce their positions of power. Unfortunately in the present day, the opposition remains fractured, and many Venezuelans are left wondering if real change will ever come to their beloved country.
What’s Next for Venezuela?
Right now, Venezuela’s future is uncertain since the government still controls the military, the courts, and the media, which makes it nearly impossible for challengers to gain power. The economy, though slightly improving, is still fragile, and millions of people continue to live in poverty without access to basic needs.
But if there’s one thing that history has shown, it’s that the people of Venezuela are incredibly resilient in light of these immense challenges. Even in the face of hardship, they continue to push for a better future and their fight for democracy isn’t over, it’s still alive as long as they keep pushing for the possibility of change.
The world is watching, and waiting to see if Venezuela can rise from this crisis and rebuild itself into the thriving nation it once was. But for those living through it, the struggle is far from over, it’s only just the beginning on a long journey till freedom and only time will tell whether they’ll succeed.
Works Cited
Jazeera, Al. “Venezuelan Opposition Rallies in Caracas One Month after Disputed Vote.” Al Jazeera, 28 Aug. 2024,
www.aljazeera.com/news/2024/8/28/venezuelan-opposition-rallies-in-caracas-one-month -after-disputed-vote? Accessed 31 Jan. 2025.
Reuters Staff. “Explainer: What Are the Major Pressure Points in the US-Venezuela Relationship?” Reuters, 27 Jan. 2025,
www.reuters.com/world/americas/what-are-major-pressure-points-us-venezuela-relations hip-2025-01-27/. “Why Did Venezuela’s Economy Collapse? – Economics Observatory.” Economics Observatory, 24 Sept. 2024, www.economicsobservatory.com/why-did-venezuelas-economy-collapse?