PanamaTimes

Saturday, Apr 13, 2024

Venezuela takes first step out of political stalemate

Venezuela takes first step out of political stalemate

Venezuela's government and the opposition have signed a preliminary agreement to find a way out of the country's political crisis.
During talks in Mexico, the two issued a joint statement requesting that billions of dollars frozen abroad be released to help fund social projects.

It comes after years of failed attempts to solve a political deadlock.

In response, the US said that it would allow the American oil company Chevron to resume some activity in Venezuela.

Following President Nicolás Maduro's election in 2013, he has grown increasingly authoritarian.

His crackdown on opposition activists ultimately led to the US imposing sanctions on his regime and recognising opposition leader Juan Guaidó as interim president in 2019 after a contested election.

Since then, several rounds of talks aimed at finding a way out of the political deadlock have gone nowhere - with the last negotiations failing just over a year ago.

But now, the government and the opposition - with the help of Norway as mediator - have drawn up an agreement that aims to ensure that billions of dollars frozen abroad will be gradually released by a UN-managed fund, to be put towards healthcare, education and food aid.

The funds were blocked by foreign banks over the alleged irregularities in the 2018 elections.

The progress made on Saturday has been welcomed by the US, who described it as a step in the right direction.

It also said oil company Chevron would be able to resume some activity in Venezuela, including importing Venezuelan crude in the US.

The agreement represents "hope for all of Latin America," Mexican Foreign Minister Marcelo Ebrard said in comments cited by AFP.

The BBC's South America correspondent Katy Watson warns, however, that it is still early days for the talks.

No progress has been made so far on one critical issue - the 2024 presidential election.

The Venezuelan opposition is calling for free elections, while President Maduro is seeking full recognition of his rule from the US and European countries.

Venezuela has been caught in a downward spiral for years with growing political discontent further fuelled by skyrocketing hyperinflation, power cuts, and shortages of food and medicine.
Newsletter

Related Articles

PanamaTimes
0:00
0:00
Close
Apple warns against drying iPhones with rice
In a recent High Court hearing, the U.S. argued that Julian Assange endangered lives by releasing classified information.
Global Law Enforcement Dismantles Lockbit Ransomware Operation
Russian opposition leader Alexey Navalny has died at the Arctic prison colony
The President of Argentina Javier Mile does not fly private, he flies commercial, with the citizens he represents. And they LOVE him for it.
Bitcoin Reaches $50,000 for First Time in Over Two Years
Belo Horizonte: Brazil's Rising Carnival Hotspot for 2024
In El Salvador, the 'Trump of Latin America' stuns the world with a speech slamming woke policing after winning a landslide election
Tucker’s interview with Putin is over 50M views on X within the first 5 hours.
Finnish Airline, Finnair, is voluntarily weighing passengers to better estimate flight cargo weight
President Nayib Bukele has proudly announced El Salvador's remarkable achievement of becoming the safest nation in the Western Hemisphere.
Former Chilean President Sebastian Piñera Dies in Helicopter Crash
This farmer seems to understand science a bit more than the event organizer, Klaus Schwab.
Facebook turns 20: From Mark Zuckerberg's dormitory to a $1trn company
The Coolest Dictator in the World" on the Path to Victory in El Salvador
Macron, France and fake news
Indian-Origin Man 'King' Arrested For Smuggling $16 Million Drugs Into US
Can someone teach Americans that not every person with slanted eyes is Chinese?
Europe's Farmers Feeding the People, Protesting Against Politicians Who Do Nothing for Their Country and Serve Only Themselves at Taxpayers' Expense
Paris Restaurant That Inspired 'Ratatouille' Loses $1.6 Million Worth Of Wine
Brazilian Police Investigate Bolsonaro's Son for Alleged Illegal Spying
Police in Brazil Raid Residence of Bolsonaro Associate Over Allegations of Illegal Spying
Border Dispute Escalates as Texas Governor Vows Increased Razor Wire
OpenAI Enhances ChatGPT-4 Model, Potentially Addressing AI "Laziness" Issue
The NSA finally acknowledges spying on Americans by acquiring sensitive data
Report Reveals Toxic Telegram Group Generating X-Rated AI-Generated Fake Images of Taylor Swift
US Border Patrol States 'No Plans' to Remove Razor Wire Installed in Texas
Bitcoin Experiences Approximately 20% Decline in Value
Klaus Schwab recently appointed himself as the Earth's "trustee of the future."
DeSantis Drops Out, Endorses Trump.
Nikki Haley said former President Trump is "just not at the same level" of mental fitness as he was while president in 2016.
Residents of a southern Mexican town set the government palace on fire in response to the police killing of a young man
Samsung Launches AI-Driven Galaxy S24, Ushering in New Smartphone Era
Judge Questions SEC's Regulatory Overreach in Coinbase Lawsuit
The Ecuador prosecutor who was investigating the television studio attack, has been assassinated.
Is artificial intelligence the solution to cyber security threats?
Vivek Ramaswamy suspends his US election campaign and endorses Trump.
Viral Satire: A Staged Satirical Clip Mistaken as Real Footage from the 2024 World Economic Forum in Davos
The AI Revolution in the Workforce: CEOs at Davos Predict Major Job Cuts in 2024
Ecuador Reports 178 Hostages in Prison Gang Standoff
The Startling Cuban Espionage Case That Has Rattled the US Government
Two Armed Men in Ecuador, Dressed as Batman and The Joker Storm the Streets.
Armed Gang Raids Ecuadorian TV Station Following State of Emergency Declaration
Anti-Democratic Canada: Journalist Arrested for Questioning Canadian Finance Minister on Support of Terrorist Group
Ecuador's 'Most-Wanted' Criminal Vanishes from Prison
Mexican Cartel Supplied Wi-Fi to Locals Under Threat of Fatal Consequences for Non-Compliance
Border Surge Leads to Over 11,000 Migrants Waiting in Northern Mexico
Outsider Candidates Triumph in Latin American Elections
As Argentina Goes to the Polls, Will the Proposal to Replace the Peso with the Dollar Secure Votes?
Fatal Shark Attack Claims Life of Boston Woman Paddleboarding Near Bahamas Resort, According to Police
×