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Following two and a half months of recuperation, Marinez came back to Maracaibo, "without any money in my pockets," he said. He tried to find a job however he could not find anything in an employment market destroyed due to the pandemic. It also led to a prolonged economic downturn.

Ten years before, Venezuela, a petrostate under the leadership of Hugo Chavez, witnessed a slump in the price of oil. in 2017, the price for a barrel plunged to close to $50 from a high that was more than $100 while the U.S. instituted wide-ranging sanctions against Venezuela's authoritarian regime.

"When the prices of oil began to drop, there was no more money to buy imported goods," said Alejandro Velasco, an associate professor at New York University who specializes in Venezuelan political issues, in an interview via phone. "As a result that there was not enough cash for the country's economy."

Venezuela's bank accounts were empty after it spent its most recent oil earnings on social services such as subsidized healthcare, food, and literacy programs. Chavez also culled perceived dissenters from the oil sector following an attempted military coup, which affected production.

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