Venezuela's Crisis: Water Costlier Than Milk & Petrol Amid Maduro's Fall

• Venezuela faces an extreme economic crisis where bottled water costs more than milk and petrol, despite holding the world's largest oil reserves.
• Hyperinflation rendered the Bolivar almost valueless by 2021, forcing the government to remove six zeros and leading to the informal adoption of the US dollar.
• Under Nicolas Maduro's 13-year rule, Venezuela's economy collapsed due to oil dependency, corruption in PDVSA, price controls, and US sanctions.
• The crisis led to widespread poverty (94% by 2021), starvation, and mass migration, with 5-6 million citizens fleeing to neighboring countries like Colombia and Brazil.
• Maduro's presidency, marked by controversial elections and political repression, reportedly ended with his arrest by US forces in Caracas.

Why It Matters: Venezuela's deep economic collapse, marked by hyperinflation and basic goods scarcity, is linked to Maduro's controversial rule and US sanctions.