Hyperinflation Is Crippling Venezuela, but Maduro Has No Interest in Fixing It

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Venezuelan National Constituent Assembly, ANC, member Diosdado Cabello has proposed that presidential elections in the South American country be held before April 30.

The election was scheduled to be held by the end of 2018, but some analysts had predicted Maduro would seek an earlier vote to take advantage of opposition that has splintered in its complaints about his rule.

With the presidential election now only weeks away and numerous most popular opposition leaders either imprisoned, barred from running for office or in exile, the opposition will most likely struggle to find a candidate who can present even the slightest challenge to Mr. Since a year ago, Washington and Ottawa have rolled out round after round of sanctions against top Venezuelan officials, including President Nicolas Maduro himself, and prohibited U.S. banks from refinancing Venezuelan debt.

Asked if it would be good for Venezuela if Maduro ran again, as he has expressed a willingness to do, Nauert told reporters: "That is news to me".

"If the world applies sanctions, we'll apply elections", said Cabello, referring to Monday's decision by the European Union to impose financial and travel restrictions on him and six other top officials. Its members include Argentina, Brazil Colombia and Mexico.

"It it was for me, the election would be held next Sunday".

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Venezuela called home its charge d'affaires in Washington for consultations, and Maduro accused Obama of a "colossal mistake" and "imperialist arrogance" similar to his predecessors Richard Nixon and George W. Bush.

Despite Almagro's warnings of fraud, Maduro has pledged guarantees for the upcoming elections in the context of ongoing negotiations between his government and the opposition. The opposition Democratic Unity Roundtable coalition now has two primary contenders: Henrique Capriles Radonski and Henry Ramos Allup.

The US also announced a series of sanctions against Venezuela as Maduro has consolidated power amid a crackdown on opponents.

"Today, tomorrow, last, only great truth is that this government and its dome is hated by vast majority of Venezuelans", he has published on Twitter. After leading street protests that turned violent and demonstrated the level of popular discontent, the opposition quickly lost steam as Mr. "Certainly the people would have to decide". But that was before Venezuela, where inflation hit triple digits past year, at 652 percent.

The name of Lorenzo Mendoza, billionaire head of private food company Polar, is on many people's lips, and he has done well in at least one public opinion poll.