Venezuela’s economy is on the brink of default. Here’s what that actually means.

From the Washington PostVenezuela’s economy has been unraveling for years.

Citizens wait in long lines to buy food and other necessities. Hospitals lack basic supplies and medicine. According to the International Monetary Fund, inflation will hit 650 percent this year and a whopping 2,300 percent in 2018. Things are so bad that the average Venezuelan has lost nearly 20 pounds over the past year because of hunger.

This month, things hit a new low.

A week ago, Venezuelan President Nicolás Maduro invited investors to the country to meet with a government committee about debt restructuring. But those who attended were confused and disappointed. They told reporters…



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During the last several decades, the United States has invested billions of dollars in trying to help the governments of Latin America and the Caribbean deliver better lives for their citizens. This has meant helping them increase internal security by combating the illicit growing and trafficking in narcotics and the activities of terrorist groups, as well as helping them to shore up their democratic and free market institutions.

Unfortunately, in recent years, continued progress in these areas has been threatened, not least by the radical populist governments in Venezuela, Bolivia, and elsewhere. These governments have instituted retrograde agendas that include the propagation of class warfare, state domination of the economy, assaults on private property, anti-Americanism, support for such international pariahs as Iran, Russia, and even transnational criminal organizations.

We are a group of concerned policy experts that fear the results of these destructive agendas for individual freedom, prosperity, and the well-being of the peoples of the region. Our goal is to inform policymakers and international public opinion of the dangers of these radical populist regimes to inter-American security.