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Politics & Government

February 03, 2009 06:12 PM

Economic problems in Venezuela

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Food prices rose by nearly 50 percent in Venezuela last year, easily the highest rate in Latin America. High inflation and food shortages pose a major problem for Venezuelan President Hugo Chavez as he asks Venezuelans on Feb. 15 to lift term limits so he can seek re-election. (Ivan Gonzalez/MCT)
Food prices rose by nearly 50 percent in Venezuela last year, easily the highest rate in Latin America. High inflation and food shortages pose a major problem for Venezuelan President Hugo Chavez as he asks Venezuelans on Feb. 15 to lift term limits so he can seek re-election. (Ivan Gonzalez/MCT) MCT
Tito Ramos, who runs one of the dozens of food stalls at the Quinta Crespo market, February 3, 2009, says the products currently in short supply are sugar, white rice, coffee. Food prices rose by nearly 50 percent in Venezuela last year, easily the highest rate in Latin America. High inflation and food shortages pose a major problem for Venezuelan President Hugo Chavez as he asks Venezuelans on Feb. 15 to lift term limits so he can seek re-election. (Ivan Gonzalez/MCT)
Tito Ramos, who runs one of the dozens of food stalls at the Quinta Crespo market, February 3, 2009, says the products currently in short supply are sugar, white rice, coffee. Food prices rose by nearly 50 percent in Venezuela last year, easily the highest rate in Latin America. High inflation and food shortages pose a major problem for Venezuelan President Hugo Chavez as he asks Venezuelans on Feb. 15 to lift term limits so he can seek re-election. (Ivan Gonzalez/MCT) MCT
Food prices rose by nearly 50 percent in Venezuela last year, easily the highest rate in Latin America. High inflation and food shortages pose a major problem for Venezuelan President Hugo Chavez as he asks Venezuelans on Feb. 15 to lift term limits so he can seek re-election. Chickens are sold at the Quinta Crespo public market, February 3, 2009. (Ivan Gonzalez/MCT)
Food prices rose by nearly 50 percent in Venezuela last year, easily the highest rate in Latin America. High inflation and food shortages pose a major problem for Venezuelan President Hugo Chavez as he asks Venezuelans on Feb. 15 to lift term limits so he can seek re-election. Chickens are sold at the Quinta Crespo public market, February 3, 2009. (Ivan Gonzalez/MCT) MCT
"The food sellers are the problem," Maria Rondon says as she laments she can't buy white rice, Tuesday, February 3, 2009. "They are multi-millionaires. Chavez is the only one who cares about the poor." Food prices rose by nearly 50 percent in Venezuela last year, easily the highest rate in Latin America. High inflation and food shortages pose a major problem for Venezuelan President Hugo Chavez as he asks Venezuelans on Feb. 15 to lift term limits so he can seek re-election. (Ivan Gonzalez/MCT)
"The food sellers are the problem," Maria Rondon says as she laments she can't buy white rice, Tuesday, February 3, 2009. "They are multi-millionaires. Chavez is the only one who cares about the poor." Food prices rose by nearly 50 percent in Venezuela last year, easily the highest rate in Latin America. High inflation and food shortages pose a major problem for Venezuelan President Hugo Chavez as he asks Venezuelans on Feb. 15 to lift term limits so he can seek re-election. (Ivan Gonzalez/MCT) MCT
Food prices rose by nearly 50 percent in Venezuela last year, easily the highest rate in Latin America. High inflation and food shortages pose a major problem for Venezuelan President Hugo Chavez as he asks Venezuelans on Feb. 15 to lift term limits so he can seek re-election. Bananas are sold at the Quinta Crespo publick market February 3, 2009. (Ivan Gonzalez/MCT)
Food prices rose by nearly 50 percent in Venezuela last year, easily the highest rate in Latin America. High inflation and food shortages pose a major problem for Venezuelan President Hugo Chavez as he asks Venezuelans on Feb. 15 to lift term limits so he can seek re-election. Bananas are sold at the Quinta Crespo publick market February 3, 2009. (Ivan Gonzalez/MCT) MCT
"The situation here is good, thanks to Comandante Chavez," said John Fernandez, a 55-year-old real estate broker, as he bought a couple of pounds of shrimp and squid Tuesday, February 3, 2009, at the Quinta Crespo public market. "Thanks to him, the poor eat three times a day. I hope he stays in power a long time." Food prices rose by nearly 50 percent in Venezuela last year, easily the highest rate in Latin America. High inflation and food shortages pose a major problem for Venezuelan President Hugo Chavez as he asks Venezuelans on Feb. 15 to lift term limits so he can seek re-election. (Ivan Gonzalez/MCT)
"The situation here is good, thanks to Comandante Chavez," said John Fernandez, a 55-year-old real estate broker, as he bought a couple of pounds of shrimp and squid Tuesday, February 3, 2009, at the Quinta Crespo public market. "Thanks to him, the poor eat three times a day. I hope he stays in power a long time." Food prices rose by nearly 50 percent in Venezuela last year, easily the highest rate in Latin America. High inflation and food shortages pose a major problem for Venezuelan President Hugo Chavez as he asks Venezuelans on Feb. 15 to lift term limits so he can seek re-election. (Ivan Gonzalez/MCT) MCT
"Prices are always going up, and salaries can't keep up," says Desiree Pereira, left, a 30-year-old computer programmer, at the Quinta Crespo public market, February 3, 2009. "It's time to give someone else a chance." Food prices rose by nearly 50 percent in Venezuela last year, easily the highest rate in Latin America. High inflation and food shortages pose a major problem for Venezuelan President Hugo Chavez as he asks Venezuelans on Feb. 15 to lift term limits so he can seek re-election. (Ivan Gonzalez/MCT)
"Prices are always going up, and salaries can't keep up," says Desiree Pereira, left, a 30-year-old computer programmer, at the Quinta Crespo public market, February 3, 2009. "It's time to give someone else a chance." Food prices rose by nearly 50 percent in Venezuela last year, easily the highest rate in Latin America. High inflation and food shortages pose a major problem for Venezuelan President Hugo Chavez as he asks Venezuelans on Feb. 15 to lift term limits so he can seek re-election. (Ivan Gonzalez/MCT) MCT
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