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Meet María Corina Machado, the woman who scares Venezuela's dictator
Born and trained as an engineer, Venezuelan opposition leader María Corina Machado has become a powerful symbol of resistance. Once a fringe opposition politician who shocked the nation by interrupting Hugo Chavez, she now leads the charge against the dictatorial regime of his successor, Nicolás Maduro. Although she has gone into hiding, she has not kept quiet. Through remote interviews and media outreach, she's rallied support for the opposition and praised right-leaning Latin American leaders like Argentina’s Javier Milei and El Salvador’s Nayib Bukele. She defended the Trump administration’s recent move to cancel oil and gas licenses that had allowed energy companies to operate in Venezuela.
GZERO World with Ian Bremmer, the award-winning weekly global affairs series, airs nationwide on US public television stations (check local listings).
New digital episodes of GZERO World are released every Monday on YouTube. Don't miss an episode: subscribe to GZERO's YouTube channel and turn on notifications (🔔).GZERO World with Ian Bremmer airs on US public television weekly - check local listings.
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.
Will Gustavo Petro overhaul Colombia's economy, forests, and drug policy?
Colombia is Latin America’s longest-standing democracy, but it’s never elected a leftist president … until now.
Gustavo Petro swept to power by a slim margin in June, thanks largely to young Colombian voters. What do they want from him? Change. It won't be easy. Petro wants to provide free university education and health care, to end oil exploration and to tax the rich. Will he deliver?
On GZERO World, Colombia's new leader sits down with Ian Bremmer in his first American interview to talk about his plans for Colombia's future, his views on the War on Drugs, and how he'll handle relations with Venezuela and the US.