Consider the following statements :
Statement-I :
Recently, Venezuela has achieved a rapid recovery from its economic crisis and succeeded in preventing its people from fleeing/emigrating to other countries.
Statement-II :
Venezuela has the world's largest oil reserves.
Which one of the following is correct in respect of the above statements ?
Show answer
Answer: D. Statement I is wrong: Venezuela has not achieved a rapid recovery; about 7.7 million people had left the country by 2023, one of the largest displacement crises in the world. Statement II is correct: Venezuela has the world's largest proven oil reserves, about 300 billion barrels. So I is wrong and II is correct.
Watch for: Huge oil reserves make a quick recovery sound likely, but sanctions and mismanagement kept the economy weak.
Why the other options are wrong
- A. Wrong because Venezuela has not recovered and emigration continues.
- B. Wrong because Statement I is false.
- C. Wrong because Statement I is false and Statement II is true.
Source to check: OPEC Annual Statistical Bulletin 2023 (proven crude oil reserves); UNHCR / R4V Inter-Agency Platform on Venezuelan refugees and migrants
Answer from the official UPSC key. Written and fact-checked by AI against the official key. Spotted a mistake? Report it.