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Venezuelan economy

“Barbarie” es la palabra que se repite en los artículos publicados sobre Venezuela en lo que va del año. Sin estar en una situación de conflicto bélico, el país de más de 2 mil kilómetros de costa Caribe, reservas energéticas y 30 millones de hectáreas cultivables funciona bajo una lógica barbárica donde el más fuerte gana un kilo de pollo, y el más armado vive, por lo menos hasta mañana.

Likely top stories this week: the deadline passes for children of undocumented immigrants to apply for legal status in the Dominican Republic; U.S. companies stand to lose billions of dollars in Venezuelan currency losses; Michelle Bachelet moves to end Chile’s abortion ban; relatives of Mexico’s 43 missing students meet with UN officials in Geneva; Puerto Rico’s economy continues to suffer.

Venezuelan President Nicolás Maduro made his annual address to the legislature on Wednesday, defending his government’s socialist economic model and accusing the Venezuelan political opposition of waging an “economic war” that has led to the country’s current financial crisis.

This week’s likely top stories: Canadian businessman Cy Tokmakjian is sentenced to 15 years in Cuba; Mexico searches for 58 missing students; Venezuela’s bolivar hits a new low; Peru arrests two suspects in the murder of Indigenous activists; Colombian peace negotiator Humberto de la Calle says his e-mail was hacked.

Lorenzo Mendoza, head of Empresas Polar S.A., Venezuela’s largest privately-held food company, refuted government claims that his business is sabotaging the local food market. Mendoza’s comments came in response to President Nicolás Maduro’s accusations over the weekend that Polar is attempting to exacerbate food shortages and destabilize the economy by cutting output of staples like corn flour—which is used to make arepas, or patties, a staple in the Venezuelan diet.

How long can the Venezuelan economy resist a major economic readjustment?

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