In The Red: Venezuelan Pensioners Abroad Have Stopped Receiving their Pensions
Thousands of elderly people exiled in other countries of Latin America, Spain, and elsewhere who are dependent on a Venezuelan state pension have been forced to find other ways to survive after payments stopped last year.
This is the case of María Alegría. María and his husband Ernesto moved to Madrid in 2011, after 60 years of hard work. The couple had a tailor shop in Caracas. For five years, they received a pension of around $2,500 per month, enough to live decently in Spain. They benefited from a special exchange rate for retired and pensioners, fixed at 11 Bolivars per 1 euro, to protect them against the high devaluation of the currency.
However, the Venezuelan government stopped wiring pensions abroad last year. María now depends on charity organization to get food. There is no solution in the near future. Venezuela is engulfed in chaos, with an inflation rate of more than 700%.