The death of Chávez in 2013 and the subsequent election of Nicolás Maduro further exacerbated the crisis. Rather than a “new way forward,” Maduro’s government continued Chávez’s policies, leading to hyperinflation, economic collapse, and a humanitarian crisis.
The Venezuelan government could have implemented comprehensive economic reforms, including removing price controls and liberalizing the exchange rate. It could also have respected democratic institutions and engaged in dialogue with the opposition to find a peaceful solution to the economic crisis.
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