https://www.frontpagemag.com/fpm/272672/venezuela-edge-precipice-joseph-klein
Venezuela, an oil-rich country that was once amongst the most prosperous countries in the Latin American region, is now in a state of economic and political chaos. Venezuela’s socialist leaders – first, Hugo Chávez and then his successor, Nicolas Maduro – have turned the country into an economic basket case because of their gross mismanagement, corruption and destructive economic policies. The inflation rate could reach an unheard of 10 million percent in 2019. There is a humanitarian crisis of monumental proportions, with the country’s population suffering from severe hunger and a health crisis. Millions of Venezuelans have fled the country. Amidst all this chaos, Maduro was sworn in as president for a second term two weeks ago following an “election” last year that many inside and outside of the country believe was rigged.
Many Venezuelans have had enough of Maduro’s dictatorship. As a result, he is now being forced to square off with a potentially formidable opposition leader who is popular with the Venezuelan people and is gaining international support. Juan Guaido, the new leader of the democratically elected opposition-controlled National Assembly, has declared himself to be the interim president until new national elections can be held.
Mr. Guaido claims that he is acting under the authority of the country’s constitution. Tens of thousands of protesters have rallied in the streets on his behalf. The Trump administration officially recognized Mr. Guaido as the legitimate interim president. President Trump tweeted on Wednesday the following expression of support: “The citizens of Venezuela have suffered for too long at the hands of the illegitimate Maduro regime. Today, I have officially recognized the President of the Venezuelan National Assembly, Juan Guaido, as the Interim President of Venezuela.” The Trump administration made it clear that all options remain on the table if Maduro clamps down too hard on the opposition.