Examines causes & effects of nation's fall from economic power in 1980s, focusing on debts & International Monetary Fund.
Written in 1996; 3,375 words; 14 sources; $ 119.95
From the Paper:
"Venezuela was an economically promising Latin American country that somehow failed to reach its potential, thus triggering its involvement with the International Monetary Fund (IMF). Venezuela was once the wealthiest country in Latin America, more accustomed to acting as a donor than as a recipient of foreign aid. The country's fall from grace cannot be traced to one single factor, instead a multitude of complex fiscal problems is to blame.
Venezuela once enjoyed the status of an upper-middle income country in the global hierarchy. In 1988, the country's gross domestic product (GDP) was approximately US$58 billion, or about US$3,100 per capita (Haggerty, 1993, p. 81). Blessed with an abundance of natural resources, Venezuela's relative prosperity ground to a halt during the 1980s. Previously spurred by..."
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