IBOV 171,906.72 ▲ 0.51% IPSA 11,537.98 ▲ 1.76% IPC MEX 66,105.23 ▲ 0.57% MERVAL 2,995,129 ▲ 2.81% COLCAP 2,510.72 ▲ 2.09% BVL PERÚ 60,222.25 ▼ 0.17% USD/BRL5.16▲ 0.40% USD/MXN16.95▼ 0.02% USD/CLP911.58▼ 0.37% USD/COP3,055▲ 0.40% USD/PEN3.35▼ 0.01% USD/ARS1,509▲ 0.63% USD/UYU40.18▼ 0.03% USD/PYG5,989▼ 0.11% USD/BOB11.44▲ 0.09% USD/DOP58.34▲ 0.64% USD/CRC446.05▼ 0.89% USD/GTQ7.62▼ 0.04% USD/HNL26.82▲ 0.02% USD/NIO36.62▲ 0.58% USD/VES783.11▲ 0.53% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.72▲ 0.25% EUR/BRL6.01▲ 0.29% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73% IBOV 171,906.72 ▲ 0.51% IPSA 11,537.98 ▲ 1.76% IPC MEX 66,105.23 ▲ 0.57% MERVAL 2,995,129 ▲ 2.81% COLCAP 2,510.72 ▲ 2.09% BVL PERÚ 60,222.25 ▼ 0.17% USD/BRL 5.16 ▲ 0.01% USD/MXN 17.06 ▼ 0.24% USD/CLP 913.98 ▲ 0.04% USD/COP 3,140 ▲ 0.03% USD/PEN 3.36 ▼ 0.66% USD/ARS 1,493 ▲ 0.10% USD/UYU 40.27 ▲ 1.24% USD/PYG 5,939 ▲ 1.68% USD/BOB 11.64 ▼ 0.76% USD/DOP 58.34 ▲ 1.25% USD/CRC 445.92 ▲ 0.89% USD/GTQ 7.62 ▲ 2.21% USD/HNL 26.79 ▲ 1.57% USD/NIO 36.62 ▲ 0.69% USD/VES 762.44 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.28 — 0.00% USD/TTD 6.70 ▲ 0.61% EUR/BRL 5.95 ▲ 1.01% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73%
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Maduro Eyes Victory in Venezuela Poll Amid Opposition Boycott

By · December 6, 2020 · 3 min read

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by Andrea Tosta

RIO DE JANEIRO, BRAZIL – (AFP) Venezuelans vote Sunday in legislative elections set to tighten President Nicolas Maduro’s grip on power and further weaken his US-backed opposition rival Juan Guaidó, who is leading a boycott of the polls he calls a fraud.

Victory will give Maduro’s ruling Socialist Party control of an expanded 227-seat National Assembly, the only institution not yet in its hands.

Venezuelans vote Sunday in legislative elections set to tighten President Nicolas Maduro's grip on power and further weaken his US-backed opposition rival Juan Guaido, who is leading a boycott of the polls he calls a fraud.
Venezuelans vote Sunday in legislative elections set to tighten President Nicolas Maduro’s grip on power and further weaken his US-backed opposition rival Juan Guaidó, who is leading a boycott of the polls he calls a fraud. (Photo internet reproduction)
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“The day has come. We have been patient,” Maduro said Saturday at his Miraflores presidential palace in Caracas. Sunday’s vote comes five years after the opposition won control of the National Assembly by a landslide.

Guaidó, 37, called for a boycott on grounds that “free and fair” conditions for holding elections do not exist. He labeled Sunday’s poll “a fraud”.

“Maduro’s objective isn’t even to gain legitimacy,” Guaido told AFP in an interview this week, adding that the goal was instead to simply wipe out all semblance of democracy.

Guaido and his allies plan a week-long plebiscite from Monday seeking public support to prolong the mandate of the current National Assembly until “free, verifiable and transparent” elections can be held.

However, the results will not be binding, as Maduro exercises control of the country’s institutions, including the Supreme Court and the powerful military.

– Weary population –

The vote takes place against a backdrop of deep political and economic crisis, with a weary population facing endless lines for gas, and chronic shortages of basic food and medical supplies.

That will likely translate into voter “apathy and inertia,” with Luis Vicente Leon of pollsters Datanalisis predicting a turnout of 34 percent or less.

Maduro, a former bus driver who became president on the death of his mentor Hugo Chavez in 2013, was re-elected in 2018 in fraud-tainted polls, a victory which much of the international community branded illegitimate.

The United States, the European Union and many Latin American countries have long blamed Venezuela’s crippling economic crisis on Maduro’s repression and mis-rule.

Instead, they backed Guaidó when the National Assembly speaker proclaimed himself interim president in January of last year.

Initial enthusiasm has waned, however, with critics seeing Guaidó’s plebiscite ploy as a desperate gamble.

– Allies watching –

Maduro’s expected victory on Sunday will be greeted by his foreign allies Russia and China as lending his regime legitimacy, as well as a legal framework to their agreements which help circumvent US and EU sanctions.

The electoral authority, appointed by the Maduro-friendly Supreme Court, said more than 20 million people are eligible to vote in the polls.

Opposition dissidents who criticize Guaidó for calling the boycott will take part in the election, despite being accused of lending Maduro legitimacy.

“They are going to represent the new opposition after January 5” when the new legislature takes office, said political scientist Jesus Castillo.

Defeat is likely to leave Guaidó increasingly isolated, analysts say. Guaidó, who boldly declared himself president last year, winning the backing of 50 countries, is set to lose the leadership of the National Assembly, on which he based his legitimacy. That will likely force his international backers to reassess their position.

Guaidó is still calling for increased sanctions from the US and EU, even though a Datanalisis poll showed 71 percent of Venezuelans oppose more crippling sanctions.

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