Venezuela’s Economics

4 April 2015
Examines causes & effects of nation’s fall from economic power in 1980s, focusing on debts & International Monetary Fund.

Venezuela is a country rich in natural resources, oil, natural gas, iron ore, coal bauxite, gold, water and timber wood. Of all of its industries, oil is the most important. The Petrleos de Venezuela, the world’sthird largest oil company and full owner of CITGO, is Venezuela’s nationally owned company that rules the industry and serving as the United States’ fourth largest oil supplier. Venezuela was one of the founding members of…

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