💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Venezuela government aims to sink Maduro recall, opposition protests

Published 27/07/2016, 04:22
© Reuters. Venezuela's President Nicolas Maduro speaks during his weekly broadcast "En contacto con Maduro" (In contact with Maduro) in Caracas

By Andrew Cawthorne

CARACAS (Reuters) - Venezuela President Nicolas Maduro's socialist government sought on Tuesday to scupper a push by the opposition to oust him this year via a referendum, while his opponents called for protests.

As the OPEC nation faces an unprecedented economic crisis, both sides are deadlocked over a provision in the constitution allowing a recall referendum halfway through the president's six-year term.

Government supporters lodged a complaint at the election board saying the Democratic Unity (MUD) coalition falsified signatures in an initial collection to trigger the process.

"They are committing grave fraud and corruption," senior Socialist Party leader Jorge Rodriguez told reporters outside the election council, saying signatures of nearly 11,000 dead people and 3,000 minors were included.

Maduro, 53, who won election to replace Hugo Chavez in 2013, has vowed there will be no referendum, and the election council has been dragging its feet over the process.

The opposition urged supporters to march to the council's Caracas headquarters on Wednesday to demand it validate the first round of signatures, 1 percent of registered voters in each state. Previous protests this year have turned violent.

"We are in an emergency," opposition leader Henrique Capriles said in a speech at a public event. "All the prices are rising and the government does nothing. ... To change this situation, there has to be political change."

If the referendum process proceeds, the next stage would be for the opposition to obtain 20 percent, or nearly 4 million signatures, asking for the vote.

In a communique, the election board said it would assess the validity of the first round of signatures on Monday, adding it was worried about aggression against its staff by protesters.

In addition to Tuesday's action, the government has lodged a plethora of court challenges. It also says there is not enough time to organise a referendum this year because the opposition waited too long before activating the mechanism.

The timing is important because if Maduro loses a referendum this year, there would be a new presidential vote - which polls indicate he would likely lose.

If Maduro loses a referendum after January, he would be replaced by his vice president, leaving the Socialist Party in power until the next presidential election scheduled for the end of 2018.

© Reuters. Venezuela's President Nicolas Maduro speaks during his weekly broadcast "En contacto con Maduro" (In contact with Maduro) in Caracas

Critics blame failed socialist policies for Venezuela's 2-1/2 year recession, the world's highest inflation, product shortages and long lines at shops. Maduro says the fault lies with falling oil prices and an "economic" war by opponents.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.