Question

In: Economics

Use the following terms to explain the current situation in Venezuela: Chavez, Maduro, US, Guaido, shadow...

Use the following terms to explain the current situation in Venezuela: Chavez, Maduro, US, Guaido, shadow government.

Solutions

Expert Solution

Venezuela is facing the situation of crisis presently. Present President Nicolas Maduro is facing the situation of protest against himself for 2 years. But he is not ready to vacant his seat. This is because he enjoyed military support. He also have support from major World power like China, Russia and Turkey.

  

Before Maduro, Hugo chavez was the president in Venezuela. He enjoyed immense military support which is much more than the support enjoyed by Maduro. After he died, Maduro was elected as the president of Venezuela in April 2013  

The economy faces a situation of crisis in his regime due to a drop in oil prices. There was a situation of hyperinflation. Poverty is there. Shortage of food and medicine is seen.

Finally it lead to protest in 2014.So, fresh elections took place in May 2018.Agaim, Maduro won the election. On January 10,2019 he became the president for the second time for a term of 6 years.

But opposition party governed by Guaido refused to accept his regime US also refused his governance declaring it as a dictatorship.Paraguay broke diplomatic relations with Venezuela.

Meanwhile, Juan Guaido declared himself as interim President on 33rd January which was supported by US and many other countries. He wanted support from military but they show their loyalty towards Maduro.

Later on, a high ranked Venezuelan air force General recognised Guaido as their interim president  

The situation is thus like a shadow government in Venezuela. Political instability shoes negative impact on the life of normal people of Venezuela.By the end of 2018,prices are doubling every 1o days. After working for whole month, people are not getting basic food. Health sector is also facing problems.

Thus the future of Venezuela is unpredictable.


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