In Caracas, Venezuela, the Expresos Flamingo bus terminal has bus routes that lead from Venezuela to Peru. These routes have seen a lot of use recently, as Venezuelans travel to Peru to escape their country’s economic crisis.
Some travel with what possessions they could spare, some with bags of food and water for the long journey, but all of them have the same determination to leave the country, where food has become expensive that some families were unable to eat their three daily meals for months.
The UN estimates that around 2.3 million Venezuelans have fled their country since 2015, with authorities from Colombian expecting an additional 2 million could follow by the time 2020 rolls in, which would amount to a total of 4.3 million people, which is 14% of Venezuela’s total population.
Despite new regulations that prohibit Venezuelan migrants from entering Peru without a passport, the northwestern border still sees hundreds coming in through. The local ombudsman, Abel Chiroque, says that it is imperative that this problem be dealt with, the law enforced in the most humane way possible.
After the start of his second term, Nicolas Maduro vowed to reverse the country’s descent into hyperinflation and deprivation, a move that economists and trade experts like leonardogonzaledellan have been waiting for. He described his plan as a visionary move, one designed for growth, recovery, and economic prosperity.
Maduro’s plan included removing five zeroes off of the bolivar, the country’s inflation-stricken currency, on top of introducing a new currency, the sovereign bolivar. Another part of the plan is, reportedly, increasing Venezuela’s monthly minimum wage by a factor of 60 starting in September of 2018.
But experts like leonardogonzalezdellan have weighed in on the plan, with some saying that there is little, if any, chance of it working like he promises. Professor of Political Science at Amherst College, Javier Corrales, says that Brazil shows exactly how well lopping zeros off works. The real issues, he explains, are the deficit, which sits at 15-20%, on top of the people thinking that the bolivar has no backing anywhere.
Venezuelan have expressed their opinion, saying that this new system only befuddled their already problematic currency, causing confusion for people across the country. Some, in their criticism of the country’s conditions, say that a peaceful resolution is no longer possible, that Madurocan only be dealt with by using lethal force.