In the midst of a severe political and economic crisis, Venezuelan President Nicolas Maduro is entering his second term. The Socialist leader is to be sworn in today before the Supreme Court. Maduro was confirmed in May last year in a controversial vote in office.
Numerous states, international organizations and the Venezuelan opposition spoke of an undemocratic election process and did not acknowledge the outcome.
Strong headwind for Maduro
Recently, several Latin American states and Canada had announced they would not recognize Maduro as the rightful president. The US has already imposed a series of sanctions against the Venezuelan leadership.
The crisis in the world’s most oil-rich country is becoming a problem for the whole region. Due to lack of foreign exchange, the state can barely import food and daily necessities. Medical care has largely collapsed. Around three million people have already left Venezuela and sought refuge in neighboring countries.
