UPSC Previous Year Question | Prelims GS | 2024

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?

  1. Both Statement-I and Statement-II are correct and Statement-II explains Statement-I.
  2. Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-I.
  3. Statement-I is correct, but Statement-II is incorrect.
  4. Statement-I is incorrect, but Statement-II is correct.

Answer

Correct Answer

Statement-I is incorrect, but Statement-II is correct.

Explanation

Statement-I is incorrect: Venezuela had not achieved a sustained, rapid recovery that stopped emigration; large-scale outward migration continued amid economic and political difficulties. Statement-II is correct: Venezuela has the world's largest proven oil reserves. Possessing large oil reserves does not by itself establish that the country's economic crisis has been resolved or that emigration has ceased. Therefore, Statement-I is incorrect and Statement-II is correct.

Topics: international relations, latin america, oil reserves, venezuela's economy and migration