- Venezuela is nearing default; import cuts to avoid it will stoke unrest
- OAS is pressuring government to allow recall referendum on President Maduro
- Mr. Maduro could handpick successor and resign at behest of his ruling PSUV party
Venezuela is facing the world’s highest inflation rate, calamitous shortages of basic goods, frequent and lengthy power outages, and political deadlock. A majority of Venezuelans want President Nicolas Maduro of the ruling United Socialist Party of Venezuela (PSUV) to step down, and the political opposition is pushing for a constitutionally sanctioned recall referendum to cut short the president’s term. However, Mr. Maduro will not go softly.