Maduro Venezuelan President admits that the economic model that his party (Socialism) has failed

"The models of the creature we have tried so far have failed and the responsibility is ours - mine and yours," he told his party.

(Note) A little background - Venezuela, a country rich in oil and the richest country in South America adopted a socialist policy of nationalization of private companies and planned economy and has since suffered severe poverty and inflation of thousands of percent. Venezuelan citizens lost an average of 11 kg in 2017 as a result of starvation and 90% of the population of Netzuela lives in poverty, which led to massive negative migration to neighboring countries.Honzuali
currency is so little that it reached the point where a deal is weighed instead of counting them.

The government tried to deal with the situation with ridiculous solutions such as removing zeros from the currency rather than doing the trivial thing - restoring the economy to a free market economy and eliminating government intervention and privatizing government companies.