The Investment Whisperer
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

The Investment Whisperer

World

Venezuelans vote in crucial election as opposition challenges Maduro

by admin July 28, 2024
July 28, 2024
Venezuelans vote in crucial election as opposition challenges Maduro

Venezuelans headed to the polls on Sunday to vote in a highly consequential presidential election where the country’s longtime strongman, Nicolas Maduro, will face one of his greatest political challenges yet, say analysts.

Maduro, who took the mantle of the ruling Chavismo movement after his predecessor Hugo Chavez’s death in 2013, is seeking his third consecutive six-year term in office. Of the nine other candidates running for the presidency, his biggest challenger is a unified opposition movement that overcame their divisions to form a coalition known as the Democratic Unitary Platform.

The opposition movement has maintained its momentum despite sustained government repression, in which their first-choice candidate, María Corina Machado, was disqualified from running. Machado, an avowed capitalist who has promised privatization of several state industries, has since rallied for her replacement, the soft-spoken former diplomat Edmundo González Urrutia.

The vote has come at a crucial moment for Venezuela, which has experienced violent repression under Maduro’s watch and the worst economic collapse of a peacetime country in recent history. The oil-rich nation, once the fifth-largest economy in Latin America, has seen its economy shrink in the last decade to the equivalent of a medium-sized city, according to data from the International Monetary Fund. 

Punishing sanctions on the regime by the United States and European Union have failed to topple the populist incumbent, who argues that Venezuela’s woes are due to being a victim of an “economic war.”

Around eight million Venezuelans have fled the country amid shortages of vital goods and soaring inflation.

There has been mounting concern that the opposition will not see a fair contest as Maduro’s government controls all public institutions in Venezuela and has been accused of rigging previous votes, which it denied. Experts note, however, that concerns of vote tampering may be mitigated by the planned presence of opposition party representatives at each polling station.

The election campaign has seen at least 71 people arbitrarily detained – the majority of whom provided some sort of service to the opposition – and a dozen online media outlets blocked within the country, according to human rights organization Laboratorio de Paz.

The government has also created significant impediments for the millions of Venezuelans abroad to vote, including widely unattainable passport and residency requirements.

A limited group of election observers, including a team from The Carter Center – a non-profit organization set up by former US President Jimmy Carter – will be on the ground. But several international election observers have announced this week that they will no longer travel to Venezuela to monitor the vote.

Latin American leaders, including Brazilian President Luiz Inácio Lula da Silva, have called on Maduro to commit to stepping down if he loses. Venezuelan opposition figures have also appealed to the country’s military, that has long supported Maduro and his predecessor, to respect the results. The Venezuelan leader has said his victory will ensure “peace” in the country.

How the army reacts to the outcome could be an important factor in any scenario, but analysts say it impossible to parse where it stands.

Polls will close at 6 p.m ET.

This post appeared first on cnn.com

0
FacebookTwitterGoogle +Pinterest
previous post
DOJ settles with former FBI officials over release of anti-Trump texts
next post
The US says it has successfully practiced using a low-cost bomb to sink a major surface ship. China is taking note

Related Posts

Netanyahu in ‘excellent’ health after hernia surgery, hospital...

April 2, 2024

Europe and the UK ‘reset’ relations, almost a...

May 20, 2025

Rescuers battle sub-zero temperatures as more than 120...

December 20, 2023

Severe flash flooding hits southern and eastern Spain

October 30, 2024

Cambodia breaks ground on controversial $1.7 billion canal...

August 6, 2024

Israel’s population growth slows as residents emigrate amid...

January 2, 2025

The family home next to Auschwitz is opening...

January 17, 2025

Netanyahu is unequivocal about ceasefire and hostage agreement...

September 6, 2024

Ghost towns dot Lebanon’s border with Israel as...

April 16, 2024

UK passes controversial bill to send asylum seekers...

April 24, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (1,402)
    • Investing (3,381)
    • Politics (4,562)
    • World (4,498)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheInvestmentWhisperer.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 TheInvestmentWhisperer.com | All Rights Reserved