Venezuela faces recession, shortages, soaring prices


Venezuela’s economy has entered a recession, the government and economists say, with inflation climbing to nearly 20 percent.

The Venezuelan economy is expected to shrink by 6.5 percent this year, the most severe slump in living standards in a decade.

The crisis is fueling a trade war between Venezuela and the United States, with President Nicolás Maduro and President Donald Trump arguing that the trade war is a ploy by the U.S. to take advantage of Venezuela’s economic woes.

“The U.N. has a duty to intervene, and this is what we are doing,” Maduro said during a visit to a hospital in Caracas.

“It is our right to defend our country.”

Maduro has blamed the U., which is not a member of the U