Venezuela: How paradise got lost

The mounting crisis in Venezuela is entering a new chapter as President Nicolás Maduro’s plans to rewrite the constitution face a pivotal vote.

On Sunday 545 seats in the new Constituent Assembly will be decided. The winners would essentially replace the current National Assembly, which is controlled by Maduro opponents – who have called for a boycott of the vote.

For months, opponents have taken to the streets to voice their frustration with Maduro’s government. More than 100 people have died in connection with bloody protests. Chaos has consumed this country of astonishing natural beauty – one that also possesses the largest proven oil reserves in the world. How did a potential paradise become so lost? Here are a few answers:

Plummeting oil prices put economy in reverse

Oil revenue fueled Venezuela’s economy under former President Hugo Chavez. When oil was $100 a barrel, billions flowed through the state-owned petroleum company and were siphoned off for social programs and food subsidies. But when oil prices fell dramatically, those massive subsidies became unsustainable.

CNN in Venezuela: Latest developments

The flow of dollars slowed to a trickle

Crashing oil prices also left the government with less foreign currency to buy goods from other countries. Venezuela’s imports are down 50% from a year ago, according to Ecoanalitica, a national research firm. Now there are critical shortages of essential imports, including vital medicines.

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Updated 5:07 PM EDT, Thu July 27, 2017

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Children dying in Venezuelan hospitals

03:08 - Source: CNN

Venezuela: How a rich country collapsed

Price controls are just another problem

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Updated 5:07 PM EDT, Thu July 27, 2017

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Venezuela government refuses international aid

02:01 - Source: CNN

Under Chavez, the prices of key items were slashed so that everyone could afford them. The official price for a bag of cornflour, used in the national dish arepas, is 639 bolivares. That’s affordable for many people – but the price of flour is below the cost of production. Domestic producers have stopped making cornflour.

People line up to buy bread in Caracas amid shortages and skyrocketing prices on all types of goods.

Country down to its last $10 billion

Venezuela has less than $10 billion in foreign reserves, according to data from the Central Bank of Venezuela published in July. CNNMoney reported earlier this year that the country had just $10.5 billion left. For the rest of the year, it will owe roughly $5 billion in outstanding debt payments. The financial clock is ticking.

Venezuela has lowest reserves in over 20 years

The ‘Maduro diet’

Rampant inflation has meant more people are skipping meals, and the percentage of malnourished Venezuelans is growing rapidly, according to an annual national survey by three of the country’s major universities and other research groups.

Many have dubbed this phenomenon the “Maduro diet,” a reference to the embattled President, who has said that doing without “makes you tough.”

GM isn’t only company in crisis in Venezuela

Pain turns to rage – and protest

The country has been riven by violent protests for months as opposition leaders face off with Maduro supporters.

Anti-government protesters want Maduro to step down, accusing him of eroding democracy. Maduro, meanwhile, has sent the Venezuelan military onto the streets to maintain order.

A costumed demonstrator in Caracas, Venezuela, protests the government of Venezuelan President Nicolas Maduro on Sunday, August 6. Unrest continued to sweep through the country after a new legislative assembly was inaugurated following a controversial election on July 30. The new assembly has wide-ranging powers and is expected to rewrite the Venezuelan constitution at Maduro's behest. Opposition supporters, who see the vote as a power grab and an erosion of democracy, boycotted and staged demonstrations against the vote.

Soldiers stop a vehicle and detain its passengers on the Paramacay military base in Valencia, Venezuela, on August 6. According to authorities, two people were killed when an anti-government paramilitary attack was quelled at the base.

Anti-government activists stand near a flaming barricade in Valencia on August 6.

A man is arrested in Valencia during clashes between anti-government activists and the National Guard on August 6.

Members of the Venezuelan armed forces fly over Valencia in a helicopter while citizens demonstrate in support of a group that staged a paramilitary uprising at the Paramacay military base on August 6.

Venezuela's Chief Prosecutor Luisa Ortega Diaz, third from left, is surrounded by employees of the General Prosecutor's office as she is barred by security forces from entering her office in Caracas on Saturday, August 5.

Diosdado Cabello, a member of Venezuela's National Constituent Assembly, holds an image of Venezuela's late President Hugo Chavez as delegates gather for a group photo following their swearing-in ceremony on Friday, August 4.

Opposition activists protest against the newly inaugurated National Constituent Assembly on August 4.

A woman in Caracas attends a vigil Monday, July 31, for anti-government activists who have died in the country's recent unrest. More than 120 people have been killed in Venezuela since early April, according to the attorney general's office.

Opposition lawmaker Juan Requesens addresses a rally in Caracas on July 31. Two other leading opposition figures, Leopoldo Lopez and Antonio Ledezma, were rounded up from their homes, according to their families.

Maduro celebrates the results of a national vote on Sunday, July 30. His opponents boycotted the election and demonstrated against it for weeks, saying he orchestrated it to get around the existing National Assembly, which the opposition has controlled since 2015. Maduro has argued that the Constituent Assembly will help bring peace to a polarized country, with all branches of the government falling under the political movement founded by his late mentor and predecessor, Hugo Chavez.

Members of Venezuela's national police are caught in an explosion as they ride motorcycles near Altamira Square in Caracas on July 30. Venezuela has seen widespread unrest since March 29, when the Supreme Court dissolved Parliament and transferred all legislative powers to itself. The decision was later reversed, but protests have continued across the country, which is also in the midst of an economic crisis.

A wounded anti-government demonstrator is helped by medics during clashes with police in Caracas on July 30.

A demonstrator shouts slogans through a traffic cone during an anti-government protest in Caracas on July 30.

A protester wounded by a pellet gun receives attention July 30 during a demonstration against the vote for a Constituent Assembly.

A member of the National Guard fires at protesters during clashes in Caracas on Friday, July 28.

A demonstrator dressed as Venezuelan independence hero Simon Bolivar is silhouetted against a national flag in Caracas on Monday, July 24.

Venezuelan police Officer Oscar Perez joins in an anti-government protest in Caracas on Thursday, July 13. Perez allegedly piloted a stolen police helicopter used to attack the Venezuelan Supreme Court with grenades on June 27.

Venezuelan lawmakers Luis Stefanelli, left, and Jose Regnault appear stunned in a corridor of the National Assembly after a clash with demonstrators in Caracas on Wednesday, July 5. Supporters of Maduro stormed the building and attacked opposition lawmakers, witnesses said. At least seven legislative employees and five lawmakers were injured, according to National Assembly President Julio Borges. Journalists said they were also assaulted.

National Guard members clash with deputies of the National Assembly in the Parliament's courtyard in Caracas on Tuesday, June 27.

A boy runs under a national flag during a June 27 protest in Caracas.

Protesters tear down a fence at the La Carlota airbase outside Caracas on Friday, June 23. A soldier shot a demonstrator through the fence at the base on the previous day, killing him.

Protester David Jose Vallenilla is shot through a fence by a member of the National Guard near a military base in Caracas on Thursday, June 22. Vallenilla later died in the hospital after suffering three gunshot wounds to the chest.

Maduro holds up a copy of the Venezuelan constitution during a news conference at the presidential palace in Caracas on June 22. Maduro has called for changes to the constitution amid the unrest.

A protester hides behind a barrier in Caracas on June 22.

An opposition activist displays bullet shells during an anti-government demonstration on Monday, June 19.

People flee during a clash between opposition demonstrators and riot police in Caracas on June 19.

Opposition activists aim projectiles toward riot police during a demonstration on June 19.

Demonstrators stand in front of a police vehicle on June 19.

A street in eastern Caracas is painted with the names of people killed during more than two months of protests.

During a "Grandparents' March" in Caracas, a man is blocked by police from reaching the Government Ombudsman's Office on Friday, May 12.

Opposition activists scuffle with riot police in Caracas on May 12.

Thousands of Venezuelan protesters march on a Caracas highway on Wednesday, May 10.

Opposition activists clash with riot police in Caracas on Monday, May 8.

An armored National Guard vehicle runs over a protester in Caracas on Wednesday, May 3. The protester, 22-year-old Pedro Michell Yaminne, survived, his mother told CNN. Interior and justice minister Nestor Reverol told reporters that the "lamentable" incident was under investigation. He said that moments before Yaminne was run over, demonstrators hurled a Molotov cocktail at the armored vehicle, opened the side door and "brutally assaulted" the driver.

A demonstrator catches fire during protests in Caracas on May 3. It happened as protesters clashed with police and the gas tank of a police motorcycle exploded. Other photos from the scene showed the man being attended for burns to his body.

A demonstrator stands in front of an armored vehicle during protests in Caracas on Wednesday, April 19.

Opposition leader Henrique Capriles reacts to tear gas during a protest on April 19.

Riot police clash with demonstrators while tear gas fills the air in Caracas on April 19.

Rescue workers tend to a demonstrator hit by a tear gas canister during anti-government protests on April 19.

A demonstrator reacts during a march in Caracas on Saturday, April 15.

A protester suffering from the effects of tear gas is carried away on Thursday, April 13.

Clouds of tear gas spread across a highway in Caracas during clashes on Monday, April 10.

Demonstrators help a journalist whose leg was injured while covering clashes in Caracas on April 10.

Thousands of demonstrators protest against Maduro in Caracas on Saturday, April 8.

Venezuelan police line up before clashing with opposition activists on Thursday, April 6.

Demonstrators fight with national police officers in Caracas on Tuesday, April 4.

Crisis in Venezuela

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What’s the government doing?

Venezuelan President Nicolás Maduro points to a placard of his mentor, the late Hugo Chavez, in a May Day rally in Caracas.

The Supreme Court dissolved parliament in March, transferring legislative powers to itself. That left the two remaining branches of government controlled by Maduro’s ruling United Socialist Party. The opposition said it was a coup. The court reversed its decision shortly afterward, but protests had already erupted against Maduro. The newly elected body to be decided on Sunday would rewrite the 1999 constitution, the cornerstone of Chavez’s “Bolivarian Revolution,” which ended presidential term limits and allowed for indefinite re-elections.

The government’s interior and justice ministry has banned all protests, starting Friday, saying those who “organize, support, or instigate activities that disturb the holding and functioning of the electoral process” face 5 to 10 years in prison.

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Updated 5:07 PM EDT, Thu July 27, 2017

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Venezuela preps for more chaos amid 2-day strike

03:00 - Source: CNN

The opposition organized a two-day general strike in defiance of the vote.

Maduro critics also held an unofficial vote on July 16 to demonstrate public opposition. More than 7 million Venezuelans – nearly 40% of the voting population – cast ballots against Maduro’s proposals in the nonbinding referendum. Regime opponents also announced a boycott of Sunday’s vote and said they would refuse to recognize its results.

Sunday’s vote: What you need to know

What’s it like to live like this?

The impact of the country’s problems are all too obvious to most Venezuelans.

CNN’s Rachel Clarke, Pete Burn, Rafael Romo, Marilia Brocchetto, Mariano Castillo, Patrick Gillespie, Osmary Hernandez, Deborah Bloom, Natalie Gallón and Gizela Crespo contributed to this report.