Bread, medicine and toilet paper are just some of the basic necessities Venezuelans are struggling to find.
Low oil prices all over the world have hit the country hard. Public services are disappearing and US officials are warning that the entire country is on the brink of collapse.
President Nicolas Maduro has announced a state of emergency to deal with the economic crisis. He says it is necessary to combat what he calls foreign aggression, which he blames for Venezuela’s problems.
Government officials say the state of emergency will allow better distribution of resources.
But it could also give security forces more power. Critics are also worried about Maduro’s threat to seize closed factories.
So what impact will this crisis have on Venezuela and the region?
Presenter: Folly Bah Thibault
Sonia Schott – Independent journalist and political analyst
Daniel Fermin – Researcher for the Center of Political Studies at the Andres Bello Catholic University
Vanessa Neumann – Founder and CEO of the trade integrity consultancy firm Asymmetrica