Venezuela: Stand and deliver
A narrow and disputed election win by Nicolás Maduro opens the way for greater changes in Venezuela’s economic management
By Ben Miller
It's the kind of list few incoming leaders would envy. Soaring
unemployment. Rampant inflation. Food shortages. Slumping
export demand. A yawning budget deficit. Lack of investment.
And a weakened political mandate.
But these are just some of the challenges facing
Nicolás Maduro, Venezuela's new president. The choices
he makes are likely to have far-reaching consequences not only
for his party, but for the course the nation charts for the
However, a brewing power struggle within his party and the
imperative to prove his credentials - as heir to the legacy of
former president Hugo Chávez - could force Maduro to
entrench the populist policies of his predecessor, experts
Venezuela's economic woes are grave. Moody's estimates the
country ran a fiscal deficit of 11% in 2012, sharply up from 4%
the previous year. That extra spending was the main impetus for
an economic expansion of...
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