Venezuela's Opposition appeared close to disintegration this week after a key leader ditched the main coalition opposed to President Nicolas Maduro, bolstering the socialist leader ahead of elections due next year.
Four newly-elected opposition governors in Venezuela have agreed to be sworn in by the constituent assembly, defying their coalition's official position. The Roundtable for Democracy (MUD) had said none of its candidates would kneel before the pro-government assembly, which it regards as illegitimate.
One week before Venezuela faces a critical debt payment, the distressed country is already late on a series of smaller bills. The nation's state-owned oil giant, Petroleos de Venezuela, SA, has two major bond payments totaling about US$2 billion coming due in the next two weeks.
Opposition leaders in Venezuela have alleged fraud after electoral authorities claimed that Nicolás Maduro’s socialist party won 17 of 24 governorships in Sunday’s regional elections. On Sunday evening, National Electoral Council President Tibisay Lucena announced that the ruling United Socialist Party of Venezuela (PSUV) had won 17 out of 24 governorships and 54 percent of the votes. Turnout was reportedly at 61%.
President Nicolas Maduro’s government won a landslide victory in closely watched regional elections in Venezuela, according to official results that the opposition said were “suspicious” and rejected results. Maduro’s party on Sunday apparently won governorships of 17 of the 23 states with the opposition Democratic Union Roundtable (MUD) coalition taking only five, according to the results announced by the National Elections Council.
Venezuela’s triple-digit annual inflation rate is set to jump to more than 2,300% in 2018, the highest estimate for any country tracked by the International Monetary Fund.
British Minister Sir Alan Duncan expressed his concern at the deteriorating situation in Venezuela during a meeting in London on Wednesday with Venezuelan foreign minister Jorge Arreaza in London. Sir Duncan said that together with Europeans partners, they are closely watching the management of the 15 October Venezuelan State Governors’ elections closely.
Aerolineas Argentinas has become the latest carrier to suspend flights to Caracas. The company said it had concerns over security in Venezuela because of increasing criminal violence and political uncertainty. It joins dozens of airlines who have taken similar action.
Canada will impose targeted sanctions against 40 Venezuelan senior officials, including President Nicolás Maduro, to punish them for “anti-democratic behavior,” the foreign ministry announced. Canada’s move, which followed a similar decision by the United States, came after months of protests against Maduro’s government in which at least 130 people have been killed.
Chile’s central bank said it had revoked a reciprocal credit line with its Venezuelan counterpart, citing what it called Venezuela’s failure to pay back its debts. In a statement, Chile’s central bank said it had notified Venezuela’s central bank and that the line would be cancelled within 10 days.