It is no stretch of the imagination to say that the Venezuelan economy has seen better days.Last year saw violent fights over shortages of food and basic commodities in cities around the country, while escalating inflation only exacerbated the situation. This year, prices are continuing to climb with a staggering rate of inflation of 56.2 percent.The picture is no prettier for the government: since 2012, Venezuela's gold and foreign currency reserves have plummeted by one-third, and the country holds only $2 billion in liquid assets. The country is running perilously close to insolvency, and its burden of debt is becoming insurmountable. According to The Economist, “the country's arrears...
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