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Venezuela's president compares Trump to Hitler over 'economic war'

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Published on  11-30-2018 00:00
Last modified: 11-30-2018 00:00
Venezuela's president compares Trump to Hitler over 'economic war'

Venezuelan President Nicolas Maduro leaves an event in Caracas

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U.S. President Donald Trump is "persecuting" the people of Venezuela "just like Hitler persecuted the Jewish people," socialist Venezuelan President Nicolas Maduro said Thursday.

Maduro made the comparison as he boosted the country's minimum wage 150% to combat what he called an economic war being waged by the United States.

"Just like Hitler persecuted the Jewish people, Donald Trump persecutes the people of Venezuela," Maduro said.

Maduro expressed his frustration with U.S. economic sanctions that block Venezuela from financial markets, saying they are keeping the cash-strapped government from refinancing billions in debts and easing its crisis.

Despite having the world's largest proven oil reserves, Venezuela is in the fifth year of an economic crisis worse than the Great Depression.

Critics blame Venezuela's crash on two decades of failed socialist rule, corruption and mismanagement of the state-run oil company, PDVSA.

Maduro blamed the U.S. and other opponents, and said he was helping struggling Venezuelans by boosting the minimum wage to fight runaway inflation, which the International Monetary Fund has said could top 1 million percent this year.

The increase brings the monthly pay most Venezuelan workers bring home to 4,500 bolivars – about $11 on the commonly used black market exchange.

Maduro said the raise was a correction to his economic recovery plan launched 100 days ago. In August, he unveiled a new currency that lops five zeros off the amounts on previous banknotes.

Trump administration officials consider Venezuela's government a developing dictatorship. Maduro won a second six-year term as president this year in an election that the United States and many European and Latin American countries considered a sham.

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