Ms Julie Bishop (Curtin, Liberal Party, Minister for Foreign Affairs) Share this | Hansard source

I thank the member for Cowper for his question. The Australian government is deeply concerned about the deteriorating political and economic situation in Venezuela, which was one of the richest countries in Latin America until it turned to socialism in 1999. The government then embraced anti-private-sector policies, spent recklessly and racked up huge amounts of debt. Today, the IMF has noted that the GDP of Venezuela has halved over recent years. It is predicted to fall a further 15 per cent. Unemployment is currently at 30 per cent and hyperinflation is running at 13,000 per cent. The currency has been devalued by 99.9 per cent. There is massive starvation across Venezuela. The hospitals are overcrowded. Sickness is rife. Malaria has emerged after being eradicated years ago. The homicide rate is one of the highest in the world. There is violence and intimidation against critics of the government, and the human rights abuses are widespread.

Mr Hill interjecting—

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