I find some of what he has to say interesting but I'll agree that of the people I know who spend lots of their time in that part of the world, most think FerFAL's account is somewhat "dramatized."
I don't know how much of the dramatization is going on in his head consciously and how much unconsciously...that is to say I am unsure to what degree he believes what he writes. I think it is pretty true IN HIS OPINION. And I do agree with some of what he says about life in high-crime, high-corruption environments just from my own experiences with them.
But if it were THAT bad there, I would think he'd leave...he is from a fairly wealthy family and the rest of them left the country when things began to look crappy. So he can't feel THAT threatened, and perhaps more importantly he can't feel the life of his wife (or kids, can't remember if he has kids or not) is that threatened, because he's clearly got the option to leave if things are really bad.
I can tell you that the second my gf might be in serious danger of kidnapping or rape I will be out of here with her at any cost, and I have no money other than what I make in construction, and no family connections at all. But I would pull her out of there so fast she'd get hot from atmospheric friction.
So I think his stuff is worth reading, just keep a salt shaker handy as you go.