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dc.titleA Look to the Future for Venezuela
dc.contributor.authorAbuelafia, Emmanuel
dc.contributor.authorSaboin, José Luis
dc.contributor.orgunitCountry Department Andean Group
dc.coverageVenezuela
dc.date.available2020-08-27T00:00:00
dc.date.issue2020-08-27T00:00:00
dc.description.abstractThe collapse of the Venezuelan economy is unprecedented. If the expected reduction in economic activity of 2020 (around 30%) is added to the 70% contraction between 2013 and 2019, the Venezuelan economic downfall will be one the largest in the world. As part of this crisis, there has been a dramatic drop in household purchasing power, with consequent increases in poverty and inequality. Moreover, social indicators deteriorated substantially and the provision of basic services collapsed. The COVID-19 pandemic is in its exponential phase, and the ability to react of the public sector is very limited. Fiscal resources are insufficient to provide food to the population and the condition of the health sector is grave. The goal of this study is to summarize the explanations behind the countrys economic debacle even before the COVID-19 pandemic, analyze the pandemics impacts on the country, and outline short- and medium-term priority actions for dealing with the emergency and recovering the economy. The document also summarizes the efforts made by the Inter-American Development Bank (IDB) in 2019 and 2020 to diagnose the problem, design interventions and establish a dialogue with its counterparts and development partners.
dc.format.extent82
dc.identifier.doihttp://dx.doi.org/10.18235/0002621
dc.identifier.urlhttps://publications.iadb.org/publications/english/document/A-Look-to-the-Future-for-Venezuela.pdf
dc.identifier.urlhttps://publications.iadb.org/publications/spanish/document/Una-mirada-a-futuro-para-Venezuela.pdf
dc.language.isoen
dc.mediumAdobe PDF
dc.publisherInter-American Development Bank
dc.subjectFinance
dc.subjectInflation
dc.subjectElectricity
dc.subjectPrivate Investment
dc.subjectEmergency Management
dc.subjectPetroleum
dc.subjectPoverty
dc.subjectPublic Sector
dc.subjectDrinking Water Supply
dc.subjectEconomic Development
dc.subjectFinancial Crisis
dc.subjectImport
dc.subjectEconomic Policy
dc.subjectGross Domestic Product
dc.subjectPandemics
dc.subjectMigration and Migrant
dc.subjectSocial Indicator
dc.subjectSocial Welfare
dc.subject.jelcodeH10 - Structure and Scope of Government: General
dc.subject.jelcodeO4 - Economic Growth and Aggregate Productivity
dc.subject.jelcodeO2 - Development Planning and Policy
dc.typeDiscussion Papers
idb.identifier.pubnumberIDB-DP-00798
idb.operationVE-P1122
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