Venezuela's pro-government Supreme Court on Saturday revoked its controversial annulment of the opposition-led Congress amid international condemnation and protests against populist president Nicolas Maduro. Unprecedented pressure from other Latin American nations and dissent within its own ranks, and the military, appear to have been the catalyst for the court reversing its Wednesday ruling.
The Venezuelan Supreme Court's decision late Wednesday to take control of the opposition-controlled legislature has set off a wave of outrage, with some hemispheric neighbors, including the United States, Mexico, Brazil, Peru and Argentina, denouncing the measure as a threat to democracy.
Venezuela’s consumer inflation, already the world’s highest, will more than double this year surging to 720% in 2016 from 275% last year, according to a note published by the IMF’s Western Hemisphere Director, Alejandro Werner.
Venezuela sank deeper into a messy political crisis Tuesday as the opposition-controlled National Assembly suspended its session after the Supreme Court declared it null and void. Speaking before a nearly empty chamber, speaker Henry Ramos Allup, a fierce opponent of President Nicolas Maduro, declared the National Assembly lacked a quorum and would reconvene Wednesday morning.
Venezuela headed into ever more complicated political waters on Monday as the Supreme Court declared the newly opposition-controlled legislature null and void and the opposition vowed to continue defying the judges.
Venezuela said the opposition coalition MUD has won a two-thirds super majority in the country’s legislature, a major victory in Sunday’s elections.
Venezuela's fragile opposition coalition which managed to come together to achieve victory over the Chavista government on Sunday, now faces the test of trying to stick together and use its newly won congressional authority to address the country’s deep economic problems and political rifts.
Venezuela's opposition won control of the National Assembly by a landslide, delivering a major setback to the ruling party and altering the balance of power after almost 17 years of populist rule.
Venezuelan President Nicolas Maduro said Thursday the fatal shooting of an opposition leader appeared to be a gangland score-settling dismissing claim it was politically motivated ahead of elections. An attacker shot Luis Manuel Diaz dead on Wednesday evening in the central Guarico region at a campaign rally for the December 6 legislative elections, party officials said, ratcheting up fears that violence could erupt in the lead-up to the polls.
The Organization of American States (OAS), secretary general Luis Almagro condemned the killing in Venezuela of an opposition leader during a political rally ahead of the 6 December legislative election, and called for an immediate end to violence in the country.