My favourite article on Venezuela (so far). Excerpts (an individual or institutional subscription is required to read the full piece) "Beset by five-digit inflation, food shortages and rising poverty and unemployment, the economy contracted by more than a third between 2013 and 2018, and has slid even further since. This has wiped out the real gains made by most of the population between the mid-2000s and the time roughly when Maduro succeeded Hugo Chávez as president in April 2013. There is no doubting, either, that Maduro has failed to address this crisis. Hampered by the razor-thin margin by which he won his mandate in 2013 – 1.5 per cent – he has governed with a combination of bluster and repression. He stuck to a disastrous exchange-rate policy even though it was visibly making things worse for most of the population. The effects of this were made even worse by the US sanctions that started under Obama, who in March 2015 declared Venezuela an ‘extraordinary threat’ t