What has gone wrong in Venezuela?

Venezuela's President Nicolas Maduro has declared a state of emergency to combat the economic war he says foreign powers and right-wing forces in Venezuela are waging against the Latin American country.

Venezuela has the world's highest inflation rate at 180% and there are shortages of basic goods as well as power shortages.

Opposition politicians have handed in a petition with 1.85 million signatures asking for a recall referendum to oust President Maduro from power.

Rest of story at:

http://www.bbc.com/news/world-latin-america-36319877