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How Did Venezuela Go From So Rich To So Poor?

Francisco J. Monaldi, fellow in Latin American energy policy, discusses the roots of Venezuela’s current financial crises, explaining how changes late Venezuelan President Hugo Chavez made to the national oil company, PDVSA, affected the country’s oil production output and long-term profitability.

Listen to his full remarks on BBC World’s The Inquiry podcast: http://bbc.in/2pogoQo.