Venezuelan President Nicolas Madura has requested that the UN helpboosts the nation’s supplies of medicine. The country is fighting low shortages of supplies. The president has asked for the UN to help the various economic/social effects that have hit the nation. Madura explained it’s resulted from an economic war as well as a fast drop in gas prices. He recently made the statements in a TV appearance.
The Venezuelan president didn’t give any details regarding the request. However, he did note that the UN has the know-how to normalize the supply/distribution of the nation’s pharmaceutical drugs.
However, the fact that the president admitted that the country needs help from outside countries shows that the nation is experiencing a major crisis. That is even though the country has the world’s biggest reserve of petroleum.
Venezuela is now dealing with triple-digit inflation and big shortages of gas, food, as well as medicines ranging from painkillers to cancer drugs. Venezuela’s top drug association shared that up to 85 of/100 meds are missing in the nation.
The med shortages are so major in the country that patients sometimes take the wrong medicines for their various conditions. Doctors have warned about the situation because it creates a dangerous situation. President Madura also blames the shortages on a plot by conservative politicians to overthrow him.
The Organization of American States (OAS) stated that it would hold a meeting to deal with the serious situation in Venezuela. OAS is based in Washington D.C. The US and 13 other OAS nations recently announced that the Venezuela government to hold elections and also free its political prisoners immediately.
Luis Almagro is the OAS Secretary-General. He called for Madura’s government to be removed from the group due to breaking the nation’s democratic order and also violating various human rights.
The government of Venezuela has blamed the OAS leader of going beyond his authority in order to create an “international intervention” in the country.
Venezuela recently announced a new exchange rate. The country has two official rates. President Madura announced that one of them would be replaced next week. However, the problem is that the official exchange rate doesn’t get much attention in the country. The inflation in the country has become so bad that people mostly buy food and other needed items on the black market.
Some economic experts explain that Venezuela has used the same move in the past. However, the problem is that they weren’t able to keep up with the country’s black market. The dollar can earn about 3,000 bolivars on the black market.
Experts also point out that the country has few foreign exchange reserves as well as oil that’s owed to China. When combined with four-digit inflation and the crisis involving humanitarian issues, there isn’t much the country can do to solve the problem.
Venezuela has received loans from China. It’s promised to provide oil exports that are greatly discounted. The country is now dealing with major shortagesthat are worsened by high inflation. The International Monetary Fun predicted last year that inflation would hit 1,600% this year.