The FT has produced a series of charts focusing on the economic and humanitarian crisis in the failed state of Venezuela.

This week the IMF forecast that Venezuela’s real gross domestic product will collapse by 12 per cent in 2017, the second year of double-digit contractions in output, well beyond what constitutes an economic depression. In 2016 it is estimated that real GDP dropped by 18 per cent.

Professor Steve Hanke from John Hopkins University in the United States maintains an inflation rate calculator for Venezuela. The latest data shows inflation exceeding 700 per cent.

Reuters Venezuela might be a useful twitter feed to follow if you are studying the economic and political developments in this crisis-torn country.

Thousands are seeking to leave the crisis - economic failure inevitably leads to the loss of human capital

Here is a stark reminder of the humanitarian crisis in Venezuela at present