Venezuela: Situational update and 2019 outlook

The socioeconomic crisis in Venezuela continued to deteriorate throughout 2018, leading to further collapse of services, deterioration of health facilities, food security, and nutrition among the population, and one of the biggest mass displacements in South America’s history. In December 2018, inflation stood at 2,500,000%, and this is expected to keep increasing. Food availability is hampered by import restrictions, and price increases reduce access to food, medicine and other basic goods. The economic crisis is exacerbated by the deepening political crisis. This is characterised by the erosion of democratic institutions and growing civil discontent. The standoff between the government and the opposition is exacerbating the risk of armed confrontation, and the likelihood of international intervention seems increasingly likely.