Venezuela’s Socialist Party Nominates Maduro for Reelection

Venezuela’s ruling Socialist Party nominated current President Nicolas Maduro as its candidate for presidential elections expected before the end of April.

The widely expected move comes after the constituent assembly abruptly announced elections would be held within the first four months of this year. If elected, this would be Maduro’s second six-year term, following the late Hugo Chavez’s 14 years in power, Bloomberg reported.

The push for snap elections complicated negotiations between the government and their opponents, who reopened talks as part of an international effort to resolve the country’s political and economic crisis. After widespread allegations of fraud in elections last year, the opposition is demanding guarantees that upcoming presidential elections will be free and fair.

In the meantime, the Venezuelan opposition has failed to come up with an united candidate. While some say it’s preferable to hold primaries, others such as former governor of Lara state Henri Falcon already threw their hat in the ring.

Argentina has said it will not recognize the results of the presidential election, and other major South American nations may follow suit.

Many blame Maduro for the scarcity of basic products and for inflation which this year is expected to reach 13,000%, according to the International Monetary Fund – the highest in the world.

Maduro and his government defend themselves by saying the economic crisis is the work of enemy nations – invariably the United States, sometimes Colombia – in cahoots with rightwing businessmen seeking to bring him down.