In this July 19 interview on Marketplace, WOLA Senior Fellow David Smilde assesses the macroeconomic situation in Venezuela. As he points out, a default is not on the government’s agenda even as conditions continue to worsen. At the same time, Smilde cautions that something must be done. According to him: “We have not hit bottom[…I]t can get much, much worse. The conditions continue to deteriorate, and we could see real hunger and starvation. But we’re not there yet.”