Economy & Business - May 2024

VENEZUELA: Signs of change on the horizon?

It remains far from certain that Venezuela’s 28 July presidential election will be free or fair. Nevertheless, the opposition is viewing the vote as its best chance in over a decade of unseating President Nicolás Maduro’s Partido Socialista Unido de Venezuela (PSUV), which has ruled the country since the election of Hugo Chávez (1999-2013). Whatever the political outcome, the Chavista economic doctrine of ‘21st Century Socialism’ may well be diluted even if Maduro secures a third term in power.

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