In Curaçao there are many who oppose what U.S. President Donald Trump did on January 3, 2026, when American forces carried out a military operation in Caracas and captured Venezuelan leader Nicolás Maduro. But as strong as some objections are here on our island, there is a fundamental truth that too many seem unable or unwilling to face: Venezuelans themselves — not only the 8 million who fled the country, but also the millions who stayed behind — have for years yearned for freedom and relief from a failed system.
After more than two decades of misrule under “Chavismo”, it is impossible to look at Venezuela’s current condition without confronting the catastrophic legacy of that ideology. Venezuela isn’t merely in crisis — it is economically shackled and politically hollowed out.
External estimates place Venezuela’s total public debt at roughly US $150–170 billion, far exceeding what the country can realistically pay, with a debt-to-GDP ratio hovering near 200 percent. Even oil revenue — once the engine of the Venezuelan economy — is not enough to turn this around quickly.
This is no accident, nor is it a result of external “economic warfare”, as some critics claim. It is the direct outcome of years of systematic corruption, mismanagement, and institutional degradation that have hollowed out Venezuela’s economy and public institutions. From defaulted bonds to opaque loans and arbitration awards, Venezuela’s sovereign obligations are now a burden that future generations — none of whom signed up for these debts — will inherit.
That is the real Venezuela today: a country that once enjoyed one of the highest standard of living levels in Latin America now crippled by debt, economic contraction and political dysfunction. Its GDP has contracted dramatically over the past decade, human capital has been depleted by mass emigration, and basic services have collapsed.
Yet here in Curaçao, some voices still echo support for the ideology that brought Venezuela to this state. Some even romanticize “Chavismo” as an anti-Western or anti-imperialist stance. But what Venezuelans know — and have shown through their exodus and daily struggle — is that Chavismo did not deliver prosperity, justice or dignity. It delivered scarcity, repression and indebtedness.
That does not mean there were no legitimate grievances about international intervention or the manner in which Maduro was removed. Debate over military action, legality and sovereignty is part of a healthy democratic discourse. But those discussions should not blind us to the real suffering endured by ordinary Venezuelans for decades under a regime that promised “revolution” but yielded ruin.
The best tribute we can pay to the Venezuelan people is to acknowledge their suffering honestly, and to support pathways toward genuine democratic renewal, economic recovery and institutional rebuilding. That matters not just for Venezuela, but for the entire region — including Curaçao — which has felt the reverberations of this crisis for years.
Until that renewal is achieved, we cannot simply “turn the page”. We must understand where Venezuela has been, why it got there, and what must change for its people to finally enjoy the freedom and stability they have long sought. Only then can we responsibly engage with its future.