Venezuela's Next President to Face Economic Challenges, Social Divide
Venezuela's Next President to Face Economic Challenges, Social Divide
“President Hugo Chávez left Venezuela burdened with a huge amount of debt which is going to be difficult to service” by his next successor, points out AS/COA’s Eric Farnsworth.
An intense political battle is under way in Venezuela as opposition leader Henrique Capriles gears up to challenge acting President Nicolas Maduro in the April 14 presidential election. Analysts say the winner of the race will face daunting challenges in rebuilding the country following the March 5 death of longtime leader Hugo Chavez from cancer.
Supporters of opposition leader Henrique Capriles cheered after he told them he would fight for Venezuela, no matter the costs.
If elected, he could face a challenge in keeping that promise.
Council of the Americas Vice President Eric Farnsworth says President Chavez did not leave the country in good shape for a successor.
"President Chavez left Venezuela burdened with a huge amount of debt which is going to be difficult to service," said Farnsworth. "He left an economy that is highly dependent on one product, oil, and if that continues, that is going to be a problem....”
Farnsworth says the late President Chavez did manage to tap into a "deep vein" of history, hope and aspiration that has run across Latin America for many years….
