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 ?
Both Statement-I and Statement-II are correct and Statement-II explains Statement-I
Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-I
Statement-I is correct, but Statement-II is incorrect
Statement-I is incorrect, but Statement-II is correct
Answer is Right!
Answer is Wrong!
This question was previously asked in
UPSC IAS – 2024
Statement-I is incorrect because Venezuela is still grappling with a severe economic crisis that has led to widespread emigration. Statement-II is correct as Venezuela possesses the world’s largest proven oil reserves. Therefore, Statement-I is incorrect, but Statement-II is correct.
Statement-I inaccurately portrays Venezuela’s economic situation and migration trends, while Statement-II correctly identifies its status regarding oil reserves.