Venezuela's economic collapse

Empty shelves, deepening recession and soaring inflation have hit Venezuela as the price of oil drops to the lowest levels since 2009. Many are standing in line for hours to buy basic subsidised goods such as milk, soap and diapers. President Nicolas Maduro, who has a 22 per cent approval rating, admitted his country is in a crisis but blames his political foes. The opposition, who has called for protests, says the troubled economy is a result of years of corruption and misguided policies.