After yet another spat over Venezuela’s persistent food shortages, President Maduro and the country’s largest privately held company, Empresas Polar, might finally be making amends.
Chávez’s successor opened the doors of the Miraflores presidential palace Tuesday night to Lorenzo Mendoza, the company’s billionaire boss, to discuss the country’s faltering food supply. Oddly enough, after spending days blaming each other for Venezuela’s barren store shelves, both sides emerged seeming have found a sort of common ground. Continue reading »
Some honeymoon. Barely a month into his presidential term, and the situation facing Nicolas Maduro is decidedly unenviable.
Try as he might to give a show of strength by visiting powerful allies to the south this week, on the domestic front the situation is looking increasingly shaky, with terrible inflation figures released on Thursday. Continue reading »
By contrast, many other governments, especially in the Gulf but also in Latin America, were often revealed as two-faced hypocrites that praised each other publicly in elaborate shows of regional unity while privately stabbing each other in the back. That remains as true as ever today when it comes to Venezuela’s contested presidential election, which Nicolás Maduro, heir of Hugo Chávez, won by a whisker. Continue reading »
It’s a febrile atmosphere: seven people died in riots overnight, 60 were injured and 170 arrested. Back in Europe, fresh from a recent trip to Caracas, many have asked me: is this country nuts? Continue reading »
Violence has erupted in Venezuela after Nicolás Maduro won the narrowest of victories in the weekend’s presidential election, with opposition leader Henrique Capriles questioning the result. John Paul Rathbone, Latin America editor, discusses with deputy emerging markets editor Jonathan Wheatley the implications of the disputed result on the country and investors’ view of it.
Henrique Capriles would of course have preferred to win Venezuela’s elections last Sunday. But the fact that his rival Nicolás Maduro only won by a whisker meant that he has emerged greatly strengthened.
Now, however, the ugly wave of violence perpetrated by government opponents that has gripped the volatile Caribbean country since the vote, so far leaving seven dead and 61 wounded, is jeopardising Capriles’ newfound strength. Continue reading »
Even though he was not on the ballot, Hugo Chávez loomed large in Sunday’s snap Presidential election in Venezuela. But the fact that Henrique Capriles, the opposition leader, managed to capture 49.1 per cent of the vote seems to suggest that economic realities are starting to loom larger for some voters. Continue reading »
So, the chavista revolution continues: interim president Nicolás Maduro has defeated opposition leader Henrique Capriles Radonski by 7,505,338 votes (50.7 per cent) to 7,270,403 (49.1 per cent) in Venezuela’s presidential election. But as the late Hugo Chávez liked to say in a different context, the revolution continues por ahora (for now). Continue reading »
Only six weeks in the grave, and Hugo Chávez’s socialist dream is fading fast, writes John Paul Rathbone. Last night, the chosen successor of “el commandante”, Nicolas Maduro, won Venezuela’s presidential election, but only by whisker. Maduro – “the self-proclaimed son of Chavez” – got 50.7 per cent of the vote, versus 49.1 per cent for Henrique Capriles, the opposition leader. That compares to an 11 point win for Mr Chavez in October’s presidential election. Mr Capriles has refused to accept the result until the votes are fully audited. Continue reading »
As Venezuelans make up their minds whether to vote for Hugo Chávez’s handpicked successor, or the opposition candidate Henrique Capriles, recurrent problems like shortages of basic goods, electricity blackouts and relentlessly rising prices continue to complicate day-to-day living. Continue reading »
On the whole, the Hugo Chávez years went well for Polar, Venezuela’s biggest privately owned company, which did solid business despite all the president’s radical socialist rhetoric.
But with presidential elections due on Sunday, campaigning is always an especially sensitive time, with the food and drink giant last week becoming the object of particularly harsh criticism from Chávez’s successor Nicolás Maduro, a former bus driver who wants to ram it home to voters that he’s on the side of the workers, not their beastly capitalist employers. Continue reading »
Hugo Chavez always had a rather schizophrenic relationship with bankers. During his “Bolivarian revolution” he allowed many to make outrageous fortunes, while others ended up behind bars.
Under his successor Nicolas Maduro, Venezuela’s acting president, not much has changed yet, with the latest fright taking place on Thursday when a broker that housed the local operations of US-based Oppenheimer & Co was raided by intelligence agents. Continue reading »
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