How a once-hopeful Venezuela spiralled to the bottom

Once a prosperous, oil-rich nation, Venezuela has experienced a profound descent into political and economic turmoil. Its downfall is primarily attributable to the excessive reliance on oil, subsequent fiscal mismanagement and economic sanctions. Tracing the trajectory from the inception of Hugo Chavez’s Bolivarian revolution, which has been inextricably linked to the boom-and-bust cycles of its crucial oil industry, the country’s volatile history includes periods of hyperinflation, mass emigration and the recent US intervention culminating in President Nicolas Maduro’s capture.