Bloomberg
The Editors
Venezuela is slipping toward a humanitarian crisis. News of its latest economic low point, or of President Nicolas Maduro's most recent political tantrum, tends to eclipse this slow-motion disaster. Yet the danger of a Venezuelan implosion is growing.
Perhaps you're aware that Venezuela has the world's highest inflation rate, a collapsing currency and every prospect of defaulting on its debts next year. You may have read about shortages of consumer goods (everything from milk and bread to beer and condoms), and the effort required to obtain hard currency (kidnapping purebred dogs to sell in Brazil is one way).
Here are some things you might have missed. In the country with the world's largest oil reserves, transplant patients have resorted to veterinary medicines to stay alive. Coagulants for treating hemophilia are available only for emergencies. Medicines of every kind are getting hard to find outside the cities. Malaria and dengue fever are on the rise; so is malnutrition, although the government stopped publishing weekly epidemiological bulletins last November and denies that thousands of doctors are resigning and emigrating.
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Venezuela's neighbors have a special interest in averting this disaster. Brazil and Colombia are distracted by their own troubles, but they can hardly afford to ignore the turmoil at their borders -- especially with Maduro using territorial disputes to whip up nationalist fervor. From outside the region, China has bankrolled Venezuela's profligacy with more than $50 billion in loans that lock in oil supplies and sweetheart deals; it too should want to keep its debtor from the brink.
More here:
http://www.bloombergview.com/articles/2015-08-19/maduro-s-venezuela-veers-toward-a-humanitarian-crisis?cmpid=yhoo
