The IMF said the economic crisis in Venezuela, one of the founding members of OPEC, is “profound” as a substantial drop in oil production takes its toll. In an outlook on Latin America, the International Monetary Fund noted real gross domestic product for Venezuela is on pace to drop 18 percent this year, the third year in a row for a double-digit decline. “Venezuela remains stuck in a profound economic and social crisis,” the IMF’s report read. Facing widespread condemnation, Venezuelan President Nicolas Maduro in May secured another six-year term in office in an election his global critics called a sham. U.S. Secretary of State Mike Pompeo has since issued a call for Venezuela’s suspension from the Organization of American States […]