Written by Marc Jütten with Angelos Delivorias.
Venezuela under Nicolás Maduro
Nicolás Maduro assumed the Presidency of Venezuela on 8 March 2013, following Hugo Chávez’s death on 5 March. In the subsequent presidential elections on 14 April 2013, Maduro, who represented the governing Socialist Unified Party of Venezuela (Partido Socialista Unido de Venezuela/PSUV), won narrowly over Henrique Capriles, the candidate of the opposition coalition, Democratic Unity Roundtable (Mesa de la Unidad Democrática/MUD).
Since Maduro took power, the country has been suffering from the effects of a deep economic, political, social and humanitarian crisis. Hyperinflation (over 130 000 % in 2018) and large shortages of essential goods were the results of the economic policies and governmental mismanagement under Chávez and Maduro, combined with declining oil production, the global drop in oil prices in 2014, corruption and the impact of US sanctions. As a result, in recent years, 7.9 million Venezuelans have left the country, seeking safety and better opportunities, with more than 6.9 million people (85 %) being hosted in Latin America and the Caribbean. According to the European Commission, around 56 % of the population live in extreme poverty; 40 % of the population experience moderate to severe food insecurity; around 62 % of the population does not have regular access to water; and 70 % of the population have lost access to health system services.
Read the complete study on ‘The US military intervention in Venezuela and the regional and geopolitical context‘ in the Think Tank pages of the European Parliament.
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