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President Hugo Chávez is Elected
Hugo Chávez is elected with the promise of redistributing Venezuela's oil wealth to the poor. The government began importing goods and selling them at subsidized prices. Because oil revenue was high, the country was experiencing an economic surge. Chávez abused and misused his power which has continued to affect the country. -
The Government creates CADIVI
Under President Chávez, the Venezuelan government created CADIVI, a currency control board which places currency limits on individuals. This made it difficult for companies to be able to purchase American dollars. This limited all imports and is one of the reasons thought to be to blame for the food (and goods) shortages. -
Great Leap Forward
Chávez announces a "Great Leap Forward" and shortages rise to 5%. -
Shortages Continue
Food and Goods shortages rise to 24.7%. -
Nicolás Maduro is elected President.
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Shortages Rise
In February 2014, shortages reached a record high of 28%. This is the last data ever reported by the government. -
Highest Shortage Estimate
In 2015, it's estimated Venezuela's good shortage was at 75%. -
2016
Fuel is now becoming scarce and Venezuelan's are resorting to looting. They are also crossing borders to get food. -
Little to No Food
Encouraged to grow their own food while goods continue to be scarce, many Venezuelan's report only eating one meal a day.