Before we start questioning why a social upheaval has not yet broken out this year, we have to come to terms with Caracazo's political meaning. The similarities are deceiving, and the bets for a second coming are disingenuous, or misguided. The Caracazo, you see, never really left.
After years of policy paralysis, Venezuela simply ran out of money when oil prices failed to recover in time. Sound familiar? Reading about Venezuela’s economic conditions in 1989 is a drawn out exercise in déjà vu. But how real are the parallels, and to what extent do we forget about the differences?
The Caracazo is ingrained in our collective psyche so deeply it’s now more myth than event. There are as many different versions of what happened out there as there are agendas prompting them. But what really happened? In the first of a three-part series, we look at what actually happened in Venezuela betwen February 27th and March 2nd, 1989.
We’ve been able to hang on for 19 years in one of the craziest media landscapes in the world. Now, the difficulty level was raised abruptly with the global pandemic. We’ve seen different media outlets in Venezuela (and abroad) cutting personnel to avoid closing shop. This is something we’re looking to avoid at all costs, and it seems we will. But your collaboration goes a long way in helping us weather the storm.