U.N. report says poverty rises in Venezuela

A new report says that poverty is on the rise in Venezuela and efforts across Latin America to boost incomes are stalling.

The report by the United Nations’ regional economic office in Chile says that in Venezuela poverty rose from 25 percent in 2012, to 32 percent in 2013.

Paraguay, El Salvador and Colombia saw the biggest declines in poverty but overall the region showed little progress as economies slowed in the wake of the global financial crisis. The U.N. estimates that 28 percent of Latin Americans, or 167 million people, live in poverty.

As disappointing as the trend may seem, the outlook is worsening for Venezuela and other South America countries struggling to maintain social spending amid a sharp decline in commodity prices, including oil. (AP)