Puerto La Cruz


Protest against Guarimba, Caracas, January 21. Photo: Cory Fischer-Hoffman.

Leftists in Venezuela have put forward several explanations for the pressing economic difficulties and growing discontent that have beset the nation recently. These difficulties raise the possibility of an opposition takeover of the National Assembly in this year’s elections.

It is a point of honour for the Venezuelan government that despite the sharp plunge in oil prices and acute shortages of goods, President Nicolas Maduro has ruled out austerity measures.

In a recent TV interview with former vice president Jose Vicente Rangel, Venezuelan Central Bank president Nelson Merentes explained why, saying: “Do you remember what happened on February 27, 1989?”

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