Since the death of former Venezuelan President Hugo Chavez, it appears that the country is experiencing increased violence and a bit of political turmoil. Killing of former Miss Venezuela and her husband in front of their five year old daughter when crashed their car made the headlines. Now people are taking to the street demanding Chavez’s hand pick successor, President Nicholas Maduro lower prices for goods for the masses.
Violence is nothing new to Venezuela. It has a murder rate of 39 per 100,000 people according to the government official statistics. But many say the actual rate is closer to 79 per 100,000 people. Murder is just the begging. Kidnappings, thefts, are extortions are more common on any street of the country. Gangs are rampant on the street and extort money from construction, oil, steel, real estate and other companies. Many stay home after dark. That’s why it comes in No. 3 crime riddled country in the world behind Honduras and Guatemala. All of these have a devastating impact on its economy. Combined with the countries policy against private sector, the country is falling faster than ever. Some estimates crime contributes to lower its GDP growth.