Life in Venezuela is beyond all limits of desperation.

Hi, I'm Ian Bremer, and welcome to the GZero World Podcast, an audio version of what you can find on public television where I analyze global topics, sit down with big guests, and make use of small puppets.

This week, I sit down with Louis Alberto Moreno, president of the Inter-American Development Bank, an institution he has transformed since taking office in 2005.

Today I'll ask him how direct investment can help rescue struggling economies like Venezuela's

from their downward spirals.

Let's get to it.

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Thank you. Visit firstrepublic.com to learn more. I'm here with Luis Moreno,

president of the Inter-American Development Bank,

basically forever now, right?

I mean, a very long time.

Well, thank you for, first of all, thank you for having me.

Of course. And as you know, there's nothing going on in Latin America to talk about it right now.

I guess I have to start with the obvious, right? Which is Venezuela. And this has gone from

economic disaster to international political crisis very quickly.

Yes.

Tell me first how you assess the situation on the ground right now.

Look, there's always, it's very difficult to get a clear assessment on the ground, but I would say that we have three major types of problems all at the same time in Venezuela.

You have a huge humanitarian crisis where already you have issues of famine,

...