💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Venezuelans buy bus tickets out after Maduro wins re-election

Published 05/22/2018, 08:13 AM
© Reuters. People wait in line to buy bus tickets at a bus station in Caracas

By Luc Cohen

CARACAS (Reuters) - Betsabeth Casique saved for eight months for bus tickets out of Venezuela for herself and her three children. At 1.4 million bolivars each, they are worth what she earns in a month working as a nurse.

It is less than two dollars at the black market exchange rate.

When socialist President Nicolas Maduro won re-election to a six-year term on Sunday in a vote the opposition and foreign governments called illegitimate, Casique decided to leave, first for the western city of San Cristobal and from there to Cucuta, Colombia.

"That was the straw that broke the camel's back, what pushed me to do it faster," Casique, 29, said while charging her cell phone outside the Aeroexpresos Ejecutivos terminal in Caracas, where she was planning to buy tickets for a bus leaving on Tuesday.

Ninety-nine people bought tickets on Monday morning for that trip, said Greberli Rojas, a passenger who displayed a handwritten wait-list she was keeping to avoid disputes between passengers trying to fit on the bus.

Rojas, a 29-year-old accountant who arrived from the town of Barlovento in Miranda state and bought her ticket early Monday, planned to spend the night at the station to avoid losing her spot.

"I'm prepared to sell coffee because us migrants have to be prepared to start from the bottom," said Rojas, who plans to settle in Lima, Peru.

It appeared the emigration crisis Venezuela had experienced in recent years as its economy collapsed would continue since Maduro's government was unlikely to change policies that led to hyperinflation, food and medicine shortages and rising crime.

The United Nations has estimated that nearly 1 million Venezuelans the country left between 2015 and 2017.

Over the past weekend, migrants streamed across the border, skeptical that their votes would change anything in an election many thought would be rigged. Mainstream opposition called for a boycott and turnout was 46 percent compared with 80 percent in 2013's presidential election.

"We expected that the incumbents would win, so we decided to leave," said Jorge Hernandez, a 23-year-old engineering student who sold his Toyota Avalon to buy tickets for himself and his mother to leave Caracas from the Rutas de America terminal on Monday morning.

He brought bread and crackers for the 36-hour trip to Trujillo, Peru, where his sister has been waiting tables for two-and-a-half months.

© Reuters. People wait in line to buy bus tickets at a bus station in Caracas

"This government has been in power for 18 years and things have gone from bad to worse," he said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.