Leaders of Venezuela’s Democratic Unity Roundtable celebrate their victory in the country’s general election. (PA)
Venezuela’s Bolivarian Revolution, the leftist movement led by late President Hugo Chávez and largely funded by the country’s oil revenues, is running out of steam.
The country’s oil-reliant economy has been hammered by low crude prices, leaving up to three-quarters of the population in poverty, according to unofficial estimates. Anger over the economic shambles culminated in a landslide victory for the centre-right opposition in last week’s legislative elections.
Conservative leaders in the opposition coalition have vowed to liberalise Venezuela’s economy, including the rigidly...
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