Homepage / Currency / Venezuela enters crisis week as vote for new constituent assembly approaches
8 Brands & Generics Human Growth Hormone HGH Injections Find local black hookups near you what’s ssbbw chat? About Japanese Dating society and also the west Guy who would like to Date a Japanese woman – MeetKing Blog 9 Guidelines On How To Hook-up On College Gameday (At Any College) Leading Live Casino Games Provider Leading Live Casino Games Provider Pin Up Slotlarýyla Eðlence ve Para Kazanma Bir Arada The core concept of digital entertainment hub AbeBet: signature points and groups Live-сессии с дилерами в онлайн-казино azino777 How Online Gambling Enterprises Operate Around the World Meet compatible single mothers and exchange ideas official site Play airplane online Ritalin: Jak legálně zakoupit bez receptu v České republice Connect with suitable asian singles in your area How-to Date A Pornstar While Making It Operate (The Ultimate Guide) Buy Bitcoin with Credit Card or Debit Card Instantly Buy Bitcoin How to buy BTC Finding trans girls near you – the simplest way to hookup Connect with like-minded singles on a mennonite dating website Assortment of in-demand games respected casino platform abe bet casino in cyberspace Connect with girls from round the world Alexander Gambling establishment: Dйcouvrez une Nouvelle Expйrience de Jeu en Ligne Le meilleur Extra casino en ligne pour jouer BLACK SEO LINKS, BACKLINKS, SOFTWARE FOR MASS BACKLINKING BLACK SEO LINKS, BACKLINKS, SOFTWARE FOR MASS BACKLINKING BLACK SEO LINKS, BACKLINKS, SOFTWARE FOR MASS BACKLINKING BLACK SEO LINKS, BACKLINKS, SOFTWARE FOR MASS BACKLINKING The simplest way to get a local hookup what’s millionairess dating? Get prepared to connect to latinas whom share your interests Estonian Chat place – an ideal Place for Dating Estonian Singles Join our bisexual chat room now and commence connecting Discover the advantages of dating a mature mom latina How to discover the best bbw hookup app for you Title: Juega en 1Win Casino Argentina Bonos y Apuestas 5 Best BBW Lesbian Dating Apps/Sites In 2022 Online Gambling Review submissions dia govt.nz Разыгрываемые джекпоты в виртуальном клубе Вулкан казино 30 Of The Greatest Adult Sex Toys For Males | Men’s Room Health Mag Australian Continent Cazino 7 slots cyberspace: conditions and rules for betting with real cash 1Win: ¡el mejor lugar de casino y apuestas deportivas de Argentina! Aufcasino ????Mature Dating Evaluation 2023 – Whatever You Need To Know About It! ???? Take the first step towards fulfilling your ebony lesbian bbw match now Ideas on how to come-out: Tips to keep in mind > Taimi Meet your perfect match – granny hookup site Türkiye-Çin İşbirliği Derinleşiyor GuGi Mobil Yükleme Seçenekleri Hizmet İçi Eğitim Sona Erdi Dooball tv ดูบอล ออนไลน์ สด 66 ลิงค์ บนมือถือ ฟรี ภาพชัด HD ทั่วโลก Find your rich cougar date in the most useful dating site Find your dream fat girl hookup today Slot Thailand Daftar Link Situs Slot Gacor Maxwin x500 Terbaru Hari Ini Resmi Auto Jackpot! Konsultasi ke Dewan Pers, Komisi I DPRD Jambi Pertanyakan Indeks Kemerdekaan Pers Jambi yang Turun Akses News Cerita Korban Judol di Balikpapan yang Nekat Gelapkan Uang How to get local horney women in your area 3 Cara Hapus Akun Judi Online Slot : Okezone Economy SITUS TOTO > Sering Kalah Main Di Situs Slot Gacor Terbaru Mudah Maxwin Situs Slot Gacor Maxwin Main Tanpa Pola Modal 5ribu Terbaik Melhores cassinos online de Novembro 2024: Confira o top 10! Enjoy amazing gay sex experiences using the top sites on the web Make the absolute most of one’s big butt dating adventure here 9 circumstances this means when a person avoids eye contact with a lady – Hack Spirit Top Greatest M4M Personals Sites in 2022 ◉ BLACK SEO LINKS, BACKLINKS, SOFTWARE FOR MASS BACKLINKING BLACK SEO LINKS, BACKLINKS, SOFTWARE FOR MASS BACKLINKING BLACK SEO LINKS, BACKLINKS, SOFTWARE FOR MASS BACKLINKING BLACK SEO LINKS, BACKLINKS, SOFTWARE FOR MASS BACKLINKING Лотерейные розыгрыши в kasino on-line Лев казино: условия осуществления и доступа Main features of playing in machines at online-club Karavan Connect with like-minded females making new friends Comment accéder à des jeux gratuits avec Space fortuna bonus ? PUCUK4D⭐ Bandar Toto Togel Online & Situs Toto 4d Terpercaya #1 Betting site Karavan bet Gates of Olympus internet-based: benefits of playing for real money Discover an environment of opportunities with lesbian and bisexual dating Aprovecha Los Códigos Promocionales De Bbrbet ¡más Bonos, Más Juegos 1xbet Giriş Yeni Adresi 2024 ⭐️ 1xbahis Güncel Adres » 1x Guess Mobil Casino How to get started with sext room BLACK SEO LINKS, BACKLINKS, SOFTWARE FOR MASS BACKLINKING BLACK SEO LINKS, BACKLINKS, SOFTWARE FOR MASS BACKLINKING BLACK SEO LINKS, BACKLINKS, SOFTWARE FOR MASS BACKLINKING BLACK SEO LINKS, BACKLINKS, SOFTWARE FOR MASS BACKLINKING La Application De Bbrbet: Juegos Y Apuestas Approach Alcance De Tu Man Start your love story now – join our talk to gay strangers source today BLACK SEO LINKS, BACKLINKS, SOFTWARE FOR MASS BACKLINKING BLACK SEO LINKS, BACKLINKS, SOFTWARE FOR MASS BACKLINKING Find regional bbw hookups inside area BLACK SEO LINKS, BACKLINKS, SOFTWARE FOR MASS BACKLINKING BLACK SEO LINKS, BACKLINKS, SOFTWARE FOR MASS BACKLINKING BLACK SEO LINKS, BACKLINKS, SOFTWARE FOR MASS BACKLINKING Mobile Casinos: The Ultimate Guide When to Take Cranberry Tablets: Morning or Evening? Online Slots Best Payout: A Comprehensive Overview for Gamblers No Download Casinos: The Ultimate Guide to Instant Play Video Gaming The Carnivore Diet Plan: A Comprehensive Guide to a Questionable Eating Plan What is CBD Lotion Used For? What are Free Penny Slot Machines? What Do Water Tablets Do: A Comprehensive Overview Online Casinos PayPal: Just How to Wager Safely and Firmly

Currency, United States Finance

Venezuela enters crisis week as vote for new constituent assembly approaches

Venezuela’s President Nicolas Maduro is pressing ahead with a controversial election to form a new government that opponents and analysts fear will damage the country’s democracy and allow him to cement his leadership.

The election for the National Constituent Assembly (ANC) will be held on Sunday, July 30, and opposition leaders are planning a week of protests, including a two-day national strike starting on Wednesday, to oppose the election. More than 100 people have died since April in anti-Maduro protests and hundreds more have been injured and arrested, according to Reuters.

The ANC is expected be heavily made up of Maduro supporters, as it over-represents territories and sectors of the economy more likely to support him. Once formed, the ANC will be able to rewrite the country’s constitution and will supersede any other legislative body, including the opposition-controlled National Assembly.

“The establishment of an alternative institution would result in the rubberstamping of new laws and effectively eliminate political dissent in the country,” Joel Ross, Latin America analyst at global risk consultancy Verisk Maplecroft, told CNBC via email.

“In this context, the July 30 vote would legitimize the executive’s encroachment on the separation of powers.”

Diego Moya-Ocampos, senior analyst for Americas at IHS Country Risk, predicts the ANC will likely immediately assume the role of and then dissolve the National Assembly.

“The likely decision to proceed with the ANC threatens to have a high political and economic cost in terms of international isolation, sanctions, and casualties from escalating protests, increasing the risk of the Maduro regime collapsing in the two-year outlook,” he wrote for IHS Jane’s Country Risk report published last week on Thursday.

Moya-Ocampos warns that protests against Maduro are likely to escalate in Caracas and other major cities in the coming months, but the president will likely maintain the support of the country’s military. Maduro plans to deploy 232,000 solider on the streets to ensure the election goes ahead, according to Reuters.

While Maduro pursues forming the ANC, Venezuela’s crippling economic crisis continues, with shortages of food and basic goods. More than 1.5 million Venezuelans have fled the country because of the crisis, according to Barclays’ researchers Alejandro Arreaza, Michael Cohen and Warren Russell, in a commodities research paper published Tuesday.

They warn that if the country collapses, it could become a crisis for the rest of the region.

“This number (of refugees) could increase exponentially, affecting neighboring countries, particularly Colombia. The international community will need to support the region in a refugee crisis,” they said.

Alejandro Werner, director of the western hemisphere department at the International Monetary Fund, echoed this warning, adding that Venezuela faces a political and humanitarian crisis made worse by a “prolonged economic recession.”

“This political crisis poses significant downside risks for growth if it escalates further or remains unabated for a long period. Inflation is expected to accelerate driven by the monetization of large fiscal deficits and the loss of confidence in the currency,” he said in an Americas outlook report published Tuesday.

“If living conditions continue deteriorating, Venezuela’s humanitarian crisis could spin out of control, increasing the number of people migrating to neighboring countries.”

President Trump has been vocal in criticizing Maduro and the ANC. Trump warned last week he would take “strong and swift economic actions” if the election goes ahead. The Trump administration is reportedly considering a wide range of economic sanctions against the country, its senior government officials or the state-owned oil company PDVSA.

Venezuela’s economy is highly dependent on selling oil, especially to the U.S., but its oil export revenue is at a 15-year low, according to Barclays’ Arreaza, Cohen and Russell. They say even limited U.S. sanctions could cause Venezuela to default on its debt payments and disrupt oil production.

“A sharper and longer disruption (e.g. exceeding three months) could raise oil prices at least $5 to $7 per barrel,” they said. “It may be just the opportunity OPEC needs to exit its current strategy.”

However, the U.S. energy system relies on Venezuela; offsetting heavy oil supply from the country would be more difficult than offsetting Middle East supply and U.S. refiners would be negatively affected by any sanctions, according to the Barclays’ researchers.

The European Union has also called on Maduro to suspend the ANC process. Last week, the foreign affairs council discussed applying specific sanctions against individual Venezuelan leaders, but the EU has so far refrained from taking action.

Sanctions would have mixed results, warns Verisk Maplecroft’s Joel Ross.

“Sanctions would hit ordinary Venezuelan families hardest, but they would also increase pressure from the military for Maduro’s resignation. This is because reduced revenues from oil exports would shut down Venezuela’s access to foreign currency, impacting the distribution of food and medicine that the armed forces control as part of a complex patronage system,” he said.

Ross warns that if the ANC goes ahead and chances of a peaceful solution retreat, protestors are more likely to resort to violent means to remove Maduro’s government.

Follow CNBC International on Twitter and Facebook.

Source: cnbc
Venezuela enters crisis week as vote for new constituent assembly approaches

Comments are closed.