President Maduro’s popularity plunges in Venezuela since Hugo Chavez’s death

World Today

The Venezuelan government held a series of events to commemorate the anniversary of the death of former President Hugo Chavez, from concerts to forums. In the two years after his death, successor Nicolas Maduro has struggled to keep the country afloat as both political and economic problems have engulfed his presidency.

CCTV America’s Martin Markovits filed this report from Caracas.

President Maduro's popularity plunges in Venezuela since Hugo Chavez's death

President Maduro's popularity plunges in Venezuela since Hugo Chavez's death

The Venezuelan government held a series of events to commemorate the anniversary of the death of former President Hugo Chavez, from concerts to forums. In the two years after his death, successor Nicolas Maduro has struggled to keep the country afloat as both political and economic problems have engulfed his presidency. CCTV America's Martin Markovits filed this report from Caracas.

Highlights:

  • Venezuela’s problems increased dramatically almost immediately after Nicholas Maduro became president. Shortages of goods became common, while the country’s inflation rate of close to 70 percent became the highest in the world.
  • Many opposition figures believe that Chavez’s strict price and currency controls caused the current shortages while his confrontational approach created deep divisions among Venezuelans.
  • Since Maduro assumed office, the price of oil has fallen by more than half. Ninety-five percent of Venezuela’s revenues come from petrol. This has put many of the social programs, which Chavez built and dramatically cut poverty rates, in danger.
  • Many of the president’s supporters have said Venezuela’s economic woes are the result of a plot by the U.S. and select business leaders.
  • Maduro’s administration blames these business leaders and the U.S. for destroying the country’s economy by organizing producers to hoard products. They have argued that this, rather than failed policies, is driving up prices and creating shortages.
  • Maduro’s popularity has taken a deep hit in the last two years. According to some polls, his popularity is at 20 percent.