Venezuela News

Black Outs Hit Venezuela

Venezuela appears to be heading towards a recession. The country has decided to cut power usage over the next 40 days, and possibly even longer, in order to preserve energy. The specific plan repoerted by Angel.co involves shutting down power for at least 4 hours per day across Venezuela. El Guri dam is approaching record low water levels, but will hopefully be improved by these energy preservation measures. The plan may continue beyond 40 days depending on its effectiveness.

These blackouts will affect Venezuelan citizens directly by limiting their acess to groceries and basic household items. Bread, milk, and eggs will be harder for these people to obtain. Basic imported items will also be harder to obtain because the government will be unable to afford the processes. Since January 2016, the Zika Virus has been spreading, and medical equipment is sparse. Even on the black market Venezuelan currency is not even worth an American penny at this time. Venezuela is definitely taking steps to fix this issue immediately. The country hopes reducing their power usage does not need to exceed 40 days, and that operations will run smoothly again soon.

http://money.cnn.com/2016/04/22/news/economy/venezuela-blackouts-40-days/