Crisis in Venezuela: Economic Prospects, Corruption and Destabilization
Venezuela is currently facing a destabilizing economic and humanitarian crisis. The country has spiralled into a period of hyperinflation and the government has implemented a convoluted system of currency controls that is further encumbering an already depressed economic output. Despite enormous natural resource potential, Venezuela has run up foreign debts of over $150 billion and despite repeated attempts to restructure some of these obligations, it is not clear that this will provide the country with anything more than a temporary respite.
The former president of the Central Bank of Venezuela, Ruth de Krivoy, will discuss the dynamics of the ongoing crisis and assess future scenarios and prospects for economic stabilization. As more than 600,000 Venezuelans have already fled to neighbouring Colombia, how can decisions by the international community lead to urgent change? What affect will plunging oil production have on the global oil market and could this be a motivating factor for international action? And, with the growing perception of a system of pervasive corruption and cronyism, what effects might the economic situation have on the political order in Venezuela?
To enable as open a debate as possible, this event will be held under the Chatham House Rule.
This event is only open to Major Corporate Member and Partner organizations of Chatham House. If you would like to register your interest, please RSVP to Linda Bedford. We will contact you to confirm your attendance.