Many in a thriving professional class left the country when the late Hugo Chavez took power in 1999, but the early years of his rule saw a massive reduction in poverty, more children in school, and greater access to clean drinking water.

Today, however, Venezuelans are dealing with the highest rate of inflation in the world, bloody street protests and a climate of chaos. How did a potential paradise become so lost? Here are a few answers:

Oil revenue fueled Venezuela’s economy under Chavez. When oil was $100 a barrel, billions flowed through the state-owned petroleum company and were siphoned off for social programs and food subsidies. But when oil prices fell dramatically, those massive subsidies became unsustainable.

5 reasons why Venezuela’s economy is in a ‘meltdown’

The flow of dollars slowed to a trickle

Crashing oil prices also left the government with less foreign currency to buy goods from other countries. Venezuela’s imports are down 50% from a year ago, according to Ecoanalitica, a national research firm. Now there are critical shortages of essential imports, including vital medicines.
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($endSlate.length > 0) {$endSlate.removeClass(‘video__end-slate–active’).addClass(‘video__end-slate–inactive’);}}}},onContentBegin: function (containerId, cvpId, contentId) {CNN.VideoPlayer.mutePlayer(containerId);if (CNN.companion && typeof CNN.companion.updateCompanionLayout === ‘function’) {CNN.companion.updateCompanionLayout(‘removeEpicAds’);}CNN.VideoPlayer.hideSpinner(containerId);clearTimeout(moveToNextTimeout);CNN.VideoSourceUtils.clearSource(containerId);jQuery(document).triggerVideoContentStarted();},onContentComplete: function (containerId, cvpId, contentId) {if (CNN.companion && typeof CNN.companion.updateCompanionLayout === ‘function’) {CNN.companion.updateCompanionLayout(‘restoreFreewheel’);}navigateToNextVideo(contentId, containerId);},onContentEnd: function (containerId, cvpId, contentId) {if (Modernizr && !Modernizr.phone && !Modernizr.mobile && !Modernizr.tablet) {if (typeof videoPinner !== ‘undefined’ && videoPinner !== null) 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playing, inject analytics data* for Aspen (if enabled) and the companion ad layout* (if it was set when the ad played) should switch back to* epic ad layout. onContentPlay calls updateCompanionLayout* with the ‘restoreEpicAds’ layout to make this switch*/if (CNN.companion && typeof CNN.companion.updateCompanionLayout === ‘function’) {CNN.companion.updateCompanionLayout(‘restoreEpicAds’);}clearTimeout(moveToNextTimeout);CNN.VideoPlayer.hideSpinner(containerId);if (CNN.VideoPlayer.getLibraryName(containerId) === ‘fave’) {playerInstance = FAVE.player.getInstance(containerId) || null;} else {playerInstance = containerId && window.cnnVideoManager.getPlayerByContainer(containerId).videoInstance.cvp || null;}prevVideoId = (window.jsmd && window.jsmd.v && (window.jsmd.v.eVar18 || window.jsmd.v.eVar4)) || ”;if (playerInstance && typeof playerInstance.reportAnalytics === ‘function’) {if (prevVideoId.length === 0 && document.referrer && document.referrer.search(//videos//) >= 0) {prevVideoId = 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