What’s Behind The Crisis In Venezuela – And What Is The UK Doing About It?
Venezuela has had more than its fair share of international headlines this week, as the country’s deepening political crisis threatens to reach boiling point.
The south American country, led by president Nicolas Maduro, has been struggling under the weight of growing discontent.
The socialist leader’s six-year tenure has been marked by economic collapse, hyperinflation and shortages of many basic items. Millions have fled the country in recent years to escape sky-high inflation rates and food shortages.
This week, Foreign Secretary Jeremy Hunt announced the UK does not regard Maduro as the “legitimate leader” of the country, instead pledging support for National Assembly head Juan Guaido, who is attempting to seize power.
So how has it got to this point? Here’s everything you need to know.
Who is Nicolas Maduro?
Maduro, who succeeded Hugo Chavez in 2013, is increasingly seen as a dictator both at home and abroad.
He is backed by the country’s military and was sworn in for a second term as president earlier this month despite widespread claims of vote-rigging in last year’s election, which was subject to a boycott by the opposition.
The former bus driver who had a long career in trade unionism has been accused of abusing human rights and undermining the country’s democracy.
Why is the president now under so much pressure?
Maduro has been increasingly accused of undemocratic behaviour by his opponents, and has presided over skyrocketing inflation, a collapsing economy and widespread shortages of basic goods. The country has been in recession since 2014.
Russia has been propping up Maduro with arms deliveries and loans. Over the last decade, China has given Venezuela $65bn in loans, cash and investment. Venezuela owes more than $20bn.
As Venezuela’s economic crisis deepens, with masses fleeing the country to escape runaway inflation on pace to surpass 23 million percent, many are desperate for a new leader to rescue the once-wealthy oil nation.