Venezuela's economic situation is so dire that experts are fearing the South American country might eventually default on its $120 billion foreign debt, even though President Nicolás Maduro insisted this week that his government would honor all its financial obligations.
Venezuela's opposition on Jan. 14 lost the supermajority it had won in the country's Dec. 6 legislative elections, deciding to cave to a Supreme Tribunal ruling preventing three of its lawmakers from being sworn in.
The opposition's new majority in Venezuela's National Assembly has led President Nicolás Maduro to double down on the socialist economic policies he has championed.
In a symbolic gesture that they intend to move away from the socialist policies that have typified Venezuela for the last 17 years, the incoming opposition party removed portraits of former President Hugo Chavez as well as Liberator of the Spanish Americas Simon Bolivar.
The new opposition speaker of the Venezuela’s National Assembly, Henry Ramos Allup, announce on Dec. 5 that his party would soon take measures to force Socialist President Nicolas Maduro out of office.
The opposition to Venezuelan President Nicolás Maduro on Jan. 5 took control of the country's National Assembly, presumably initiating a period of heightened confrontation between the embattled socialist leader and those who have long fought the policies of Maduro and his late predecessor, Hugo Chávez.
Venezuela's new National Assembly, in which the opposition against President Nicolás Maduro holds a majority for the first time, will be headed by Henry Ramos, the secretary general of the Democratic Action party. But, the new leader was prevented from entering the building.
President Barack Obama issued an executive order implementing financial sanctions against alleged human rights violators in Venezuela, and U.S. Latino senators have commended the administration's decision.
President Barack Obama issued an executive order Monday addressing the “unusual and extraordinary threat” by Venezuela towards U.S. national security and foreign policy.
Venezuela President Nicolas Maduro has accused the United States of supporting coup attempts against his government, and the U.S. has fired back to dismiss the allegations.
The U.S. State Department announced this week additional visa restrictions for human rights violators from Venezuela. Venezuela President Nicolas Maduro has since criticized the U.S. government's decision.
The United States (U.S.) has turned down a prisoner swap offer by Venezuelan officials that would have seen the release of an opposition leader of President Nicolas Maduro.
Venezuela continues to oppose any potentials sanctions by the United States. Instead, President Nicolas Maduro has chastised the U.S. government for threatening the use of sanction, however, the Obama administration has asked Congress to stall them in favor of negotiations.
Three months since protests began rocking Venezuela, the Maduro government continues to battle unrest as well as hardships angering the protesters. However, the government's latest actions are not enough to quell the ire of protesters and have instead incited further international discontent.
