Venezuela is a failed state brought to it's knees by extreme socialism whereby the government, as well as seeking to control the oil revenue, have also tried to control all business and free enterprise. When I last read about it had the world's worst economic growth, one of the worst rates of inflation, worst infant mortality rates coupled with high unemployment and high murder rates. It's a gangster state thought to be one of the most dangerous places in South America. Public money disappears, it seems to have descended into complete chaos as a result of a brutal socialist governmet that leave many starving, not those in power of course, who as always are shielded from the harsh realities of everyday life endured by the rest of the population.
Venezuela embraced Marxism back in the late '90s, before that it was one of the most prosperous countries in Latin America.
I saw a programme about Venezuela a few months ago and many of the children are now emaciated. It was heartbreaking to watch.
Still Jeremy Corbyn and Ken Livingstone before him seem to think it's some sort of socialist utopia 