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World leaders to bid farewell to Pope Francis – and hold talks on the side
While the Catholic world prepares for the funeral of Pope Francis on Saturday – the service begins at 10 a.m. local time, 4 a.m. ET – certain high-profile attendees may also have other things on their mind. Several world leaders will be on hand to pay their respects to the pontiff, but they could also find themselves involved in bilateral talks.
Does the Congo truce portend peace? Or a potential civil war?
The Democratic Republic of the Congo and an alliance of militias led by the notorious M23 rebels announced a ceasefire on Thursday after talks in Qatar and, after three years of violence, said they would work toward a permanent truce.
India threatens Pakistan’s water
Prime Minister Narendra Modi has blamed Pakistan for Tuesday’s deadly terrorist attack in Kashmir, and he’s taken aggressive action against its government.
Protecting your money in today's unpredictable market
“When things are going fine, nobody really tests the skills and talents of their financial advisor, but this is a moment where really good advice can be extraordinarily powerful,” says Margaret Franklin, CFA Institute's CEO and President. In conversation with GZERO’s Tony Maciulis, Franklin describes the current financial climate as “maximum uncertainty,” rating it a 10 out of 10 on the risk scale.
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A graph comparing Venezuela's GDP per capita with the average price of crude oil.
The Graphic Truth: Economic turmoil in Venezuela
Venezuela has the world’s largest oil reserves but a combination of corruption, mismanagement, and tough US sanctions since the Maduro regime came to power in 2013 has meant that the petrostate has failed to benefit from its vast reserves of liquid gold.
While high oil prices under the Chavez regime in the early 2000s gave a boost to Venezuela’s middle class, US sanctions first imposed in 2006 – and significantly ramped up under the Obama and Trump administrations – have cut Caracas off from US financial systems.
Economic hardship is rife, with a staggering 50% of people living in extreme poverty. Pervasive hopelessness has also led to one of the worst migrant crises in the world.
In a bid to offset a global energy crisis in 2022 as a result of Russia’s war in Ukraine, the Biden administration began lifting some sanctions on the Venezuelan oil sector. So how are things faring? We look at GDP per capita and corresponding oil prices since 1999.