Venezuela presidential vote set for April 22

World
Europe

Venezuela's election board on Wednesday said a presidential election would be held on April 22.

The South American country is suffering acute economic difficulties that have led to severe shortages, soaring inflation and repeated political unrest.

The International Monetary Fund (IMF) says the nation's GDP declined 16 percent in 2016, 14 percent last year and predicts a 15 percent fall this year.

The election announcement came hours after a failure of mediation talks between Venezuela's government and an opposition coalition.

Why did talks collapse?

Talks to resolve Venezuela’s economic and political problems have taken place in recent weeks in the Dominican Republic.

The opposition lobbied for an election to be held later this year to give it time to choose a candidate, as its top two leaders are barred from running for presidency.

The two sides failed to agree on conditions for a presidential election, Dominican Republic President Danilo Medina, who is hosting the meeting, said on Wednesday.

Dominican President Danilo Medina speaks to the media after attending a meeting in Santo Domingo, Dominican Republic, February 7, 2018. /Reuters Photo

The sides had compromised on holding the vote on April 22, Medina said, before talks broke down and the government delegation left the Caribbean island on Tuesday night.

The opposition coalition had been lobbying for a June 10 election, Medina said, to give its disparate parties time to hold primaries.

The government, meanwhile, pushed for the vote to be as soon as March 8.

Who will stand?

Venezuela's ruling socialists have said President Nicolas Maduro will be running for re-election in the oil-rich nation despite the crushing economic crisis.

The IMF said in January that it expected unemployment to reach 30 percent and prices on all types of goods in the country will rise 13,000 percent in 2018.

Read more: Venezuela sinks deeper into hunger crisis

Maduro was filmed ahead of the announcement at a campaign event at a Caracas park, during which he danced and embraced supporters.

"The people have decided already: Nicolas Maduro is president of the republic for the 2019-2025 period," said the 55-year-old former bus driver and union leader.

Venezuela's President Nicolas Maduro dances during an event with supporters of Somos Venezuela (We are Venezuela) movement in Caracas, Venezuela February 7, 2018. /Reuters Photo

Maduro's foes, who staged massive protests last year in an attempt to force early elections, say six more years of Maduro at the helm would spark a full-fledged humanitarian crisis and the utter destruction of Venezuela's economy.

They now face a quandary about how - and if - they should participate in the vote, with leading opposition figures jailed or in exile.

Will the election be fair?

Opponents say the government is rigging the election in advance by barring Maduro's strongest rivals – opposition politicians Leopoldo Lopez and Henrique Capriles.

Some activists believe it is foolish to participate in what they consider a sham election, while others feel they have to keep up pressure by voting. For many increasingly impoverished and desperate Venezuelans, emigration has become the only escape valve.

A raft of nations, including neighboring Colombia, have already said they would not recognize the election plagued with criticism over unfair use of state resources and the sidelining of opposition politicians. There are also fears of outright fraud.

Venezuela's President Nicolas Maduro holds a document as he talks to the media before an event with supporters of Somos Venezuela (We are Venezuela) movement in Caracas, Venezuela, February 7, 2018. /VCG Photo

The early election date will only fuel criticism that Maduro has turned Venezuela into a dictatorship and could spur further sanctions from the United States.

Washington is closer to deciding whether to impose sanctions on Venezuelan oil, US Secretary of State Rex Tillerson said earlier on Wednesday, in what would be a severe blow to the OPEC member's already ailing economy.

Maduro's government, however, has said it is prepared to withstand sanctions from the "imperialist" Trump administration.

(With inputs from agencies)

14417km

Source(s): Reuters