Once upon a time, Venezuela used to be the wealthiest nation in South America. Unfortunately, for years, the country has been caught in a violent downward spiral over political discontent, insane hyperinflation, food scarcity, and gaps in power and electricity.
Three million and counting Venezuelans have left the nation in the last few years to survive. In my last take on Venezuela, I explained in detail the insanity that had taken over and the driving force (Maduro) that is pushing the nation over the edge. I want to provide an update on the situation and what you, as a reader need to know.
Two presidents?
Yes, you read it right. Asking that question in most countries would be absurd, but as of January 23rd, 2019, the question makes perfect sense in Venezuela. On this day, Juan Guaidó proclaimed himself to be the new acting president of the nation and would assume the executive branch of powers moving forward.
This move was a direct “come at me bro” to Nicolás Maduro, who had been sworn into office again just two weeks ago. As expected, good ol’Maduro did not take it kindly to someone attempting to wrest power from his hands. Going as far as to call this move a ploy from the U.S. to remove him from power.
Why are there two presidents?
Nicolås Maduro received power directly from his socialist mentor and predecessor, Hugo Chavez. Even with the direct line of succession going to him, he only won by a thin margin of 1.6%. From the very first few months of being in office, Nicolås Maduro’s government sent the Venezuelan economy into a free fall, which led to the people of the nation to blame Maduro for the nation’s woes.
To make people hate him even more, Maduro went as far as to stage a sham election in 2018 to cement his power for a 6-year term, which most opposition parties boycotted.
His opponents were either barred from running the election against him and fled the country in fear for their lives, or were merely put into jail to remove the threat of Maduro losing completely.
How is this all coming together now?
After being re-elected to a second term in elections in May 2018, Mr. Maduro announced in a very odd way that he would serve out his remaining first term and only then be sworn in for a second term on January 10th. It was because of this swearing-in process that the opposition got its second wind to resist and oppose. The national assembly states that because of Mr. Maduro going through some ridiculous process of becoming president, that his election was not fair, which currently makes Mr. Maduro a dictator of sorts to the people of Venezuela.
This is the narrative that is being pushed forth specifically by Juan Guaidó. Citing the articles of the Venezuelan constitution 233, and 333, the legislative body declared that in such cases like the current one, requires for the national assembly to take over as acting president hence why Juan Guaidó declared himself as president on January 23, 2019.
How is the rest of the world taking it so far?
Well, our great commander In-Chief has officially recognized Juan Guaidó as the legitimate president of Venezuela, literally moments after Juan stated he would be taking on the role of acting president. Of course, that sparked a response from Mr. Maduro, who once again started with the same rhetoric that the U.S. government was out to get him. In an idiotic attempt to show some measure of control, Mr. Maduro broke off ties with the U.S and told the diplomats they had 72 hours to leave, which he abandoned three days later stating that each country should keep an “interest-section” open in their respective capitals.
What’s going to happen now?
Well, as of now Juan Guaidó is urging the people of Venezuela to keep protesting and resisting until the nation is liberated. He hopes with the majority of western powers on his side, and for his cause, he will be able to take control completely and bring Venezuela back from the edges of total ruin. Though he is president of the national assembly, this body of the government was rendered powerless in 2017 by the creation of the National Constituent Assembly.
Currently, the military is the only force that can indeed make an impact and break the stalemate between Maduro and Guaidó. Though currently, they are loyal to Maduro, because of consistent pay raises and reasonably good treatment of the armed forces. Following the election on Jan 23, top Venezuelan commanders tweeted their support for Maduro, so this situation does not bode all too well to providing any stability to an already unstable country.
We will have to pay close to attention to the next move either president makes now. The biggest challenge, and possibly the most significant opportunity as well falls on the man who can reduce the insane hyperinflation that the country is going through right now. The world’s the stage, and Venezuela has just started Act II.
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