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Venezuela bondholders inch toward showdown

Monday, April 24, 2017

Venezuela’s broken system cannot fix itself

Venezuela has been here before. In 2013, 2014 and again late last year, government mis-steps ranging from cancelled plebiscites to the imprisonment of opposition leaders have triggered popular uprisings. This time the spark was provided by the Supreme Court’s attempt to dissolve the opposition-dominated legislature. The brazenness of the move, since partially reversed, brought protests back to the streets. They have been met, for the most part, with violence from security forces. The death toll stands at 20. At the same time opposition leaders are being targeted with criminal charges, and armed civilian groups loyal to President Nicolás Maduro are becoming bolder. Multinationals are leaving the country. More...

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