BRIEFING PAPER Number CBP 8315, 18 May 2018 The 2018 Venezuelan By John Curtis and Daniel Harari Presidential elections Contents: 1. The 2018 Presidential elections 2. Economic crisis 3. Social crisis www.parliament.uk/commons-library | intranet.parliament.uk/commons-library |
[email protected] | @commonslibrary 2 The 2018 Venezuelan Presidential elections Contents Summary 3 1. The 2018 Presidential elections 5 1.1 Background 5 1.2 Powers of the Presidency 6 1.3 Political developments - from Chávez to today 7 1.4 Candidates 12 Javier Bertucci (Independent) 12 Henri Falcón (Progressive Advance) 12 Nicolas Maduro (United Socialist Party of Venezuela) 15 1.5 Polling and prospects 17 1.6 What next after the elections? 18 2. Economic crisis 20 2.1 The Chávez Presidency 20 2.2 Oil price decline and economic mismanagement 21 2.3 Large budget deficit and hyperinflation 23 2.4 Collapse in GDP and living standards 24 2.5 Debt default 26 3. Social crisis 27 3.1 Hunger and lack of medicines 27 Hunger 27 Lack of healthcare and disease 29 3.2 Refugees 30 President Maduro - Venezuela by Hugoshi. Licensed under Creative Commons Attribution-Share Alike 4.0 International / image cropped 3 Commons Library Briefing, 18 May 2018 Summary Venezuela is holding Presidential elections on Sunday 20 May. The country is in the midst of a political, economic and social crisis. The opposition and outside observers doubt that the elections will be free and fair. For this reason, most of the opposition parties and their senior figures have called for a boycott of the election.