As I understand it, former Venezuelan President Hugo Chavez nationalized large swaths of land and many businesses. That led to a — surprise! — flight of capital. Chavez tried to counter with currency controls. It’s taken a decade, but the currency controls have now made it so difficult for domestic businesses to get parts and supplies from overseas that citizens face frequent shortages of medicines, milk, sugar, butter, flour — and now toilet paper.
Nice work, asshole.
Toilet paper shortage in Venezuela sends citizens scrambling for remaining rolls – NY Daily News.