What South American Nation, which is led by President Nicolas Maduro, is struggling with an extreme inflation, rerecession, and high unemployment?

In Venezuela these days it’s not unusual to see huge gatherings of people jostling with each other in long queues to get inside supermarkets and department stores but only to be welcomed by empty shelves as supplies of even basic goods like food and water have got badly affected as the nation faces its worst economic crisis in several decades. The cash-strapped Venezuelan government has been finding it hard to buy even essential items like medicines that have hit the healthcare services hard in the country, thus raising fears that its current political and economic crisis may soon turn into a potential humanitarian crisis if immediate steps are not taken. Meanwhile, the long lines at the supermarkets and the massive protests against the socialist government of President Nicolás Maduro represent the most dramatic illustration of Venezuela’s current political and economic turmoil. Energy experts predict a decline of oil production for Venezuela to 2.25 million barrels a day by the end of this year. Some polls estimate that more than 80% of basic consumer products are now in short supply in Venezuela.