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 ?
A
Both Statement-I and Statement-II are correct and Statement-II explains Statement-I
B
Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-I
C
Statement-I is correct, but Statement-II is incorrect
D
Statement-I is incorrect, but Statement-II is correct
Correct answer
Explanation
Statement I is wrong: Venezuela has not recovered from its economic collapse, and more than 7.7 million Venezuelans have left the country since 2014, 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 Statement I is incorrect and Statement II is correct.
International Relations & Geopolitics