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After the controversial re-election of Nicolás Maduro, Venezuela faces violent protests and an environment of global distrust and its economy is threatened
On the last Sunday of July (28), Venezuela was shaken by a wave of tension and uncertainty after re-election of Nicolás Maduro as president. According to the National Electoral Council (CNE), Maduro obtained 51,2% of the votes, surpassing Edmundo González, who stayed with 42,2%. However, the opposition quickly accused the government of fraud, triggering a series of violent protests that resulted in several deaths across the country, according to the video on the Knowledge Global channel.
The opposition, led by María Corina Machado, claimed various irregularities during the electoral process. A Lack of transparency, especially the non-disclosure of election records, fueled the controversy. Protests in areas such as Petare, in Caracas, were marked by potholes and large marches. The government's reaction was severe, with the police repressing protesters and increasing security on the streets.
How did Maduro come to power?
Hugo Chávez, elected president of Venezuela in 1999, implemented what he called “socialism of the 21st century”. Under his command, the country saw a major expansion of social programs and a increasing control over institutions. However, Chávez's death in 2013 left the position to his designated successor, Nicolás Maduro. Initially, Maduro managed to remain in power, despite a narrow electoral victory and a sharp drop in oil prices, a vital resource for the Venezuelan economy.
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With the fall in oil prices, Venezuela has plunged into an unprecedented economic crisis. Inflation soared and shortages of basic goods became common. Images of endless queues and empty supermarkets have become symbols of the crisis. Maduro's response was to violently repress protests and persecute the opposition, resulting in more than 270 deaths and an intensification of the humanitarian crisis.
Contestation of the election by the international community
The Venezuelan crisis did not go unnoticed outside the country. Argentina, Costa Rica, Ecuador, Guatemala, Panama, Paraguay, Peru, the Dominican Republic and Uruguay called for a complete and transparent review of the votes. In response, Venezuela expelled diplomats from those countries. Colombia and Mexico maintained a neutral stance, although they requested the publication of the electoral minutes. Brazil took custody of the Argentine and Peruvian embassies in Caracas, a move praised by Argentine President Javier Milei.
Internally, the opposition claims to have found evidence of fraud in the electoral records that would have given González victory. However, the Carter Center, a group of international observers, declared that the election cannot be considered fully democratic. In the US, Joe Biden's government is considering expanding financial sanctions against Venezuela, which could further worsen the country's economic crisis, already weakened by the drop in oil production.
The role of allies and the future of Venezuela's economy
Venezuela's oil production has fallen to less than 1 million barrels per day since the imposition of embargoes in 2017, which is a terrible indication for the local economy. However, Allies such as China, Russia and Iran continue to support Maduro. China, for example, was one of the first to recognize Maduro's victory and will maintain its imports of Venezuelan oil. Negotiations with Russia and Iran also remain active.
