Political and Institutional Crisis in Venezuela

Nicolás Maduro’s 2018 reelection was widely criticized due to irregularities and opposition boycotts. In January 2019, the National Assembly declared his presidency illegitimate, and Juan Guaidó proclaimed himself interim president, creating a dual power scenario with divided international recognition.

Expanded international sanctions, financial isolation, deepening economic collapse, and acceleration of mass migration outflows.

After years of hyperinflation and economic collapse, the government relaxed price controls, allowed dollar transactions, and reduced monetary expansion. The economy showed limited stabilization but remained structurally fragile and unequal.

Decline in extreme hyperinflation, persistent high poverty, and consolidation of a hybrid informal economic model.

In 2024, the opposition chose to participate in elections, but fraud allegations and restrictions on opposition candidates led to strong international criticism. Some external actors recognized alternative results.

Reimposition of sanctions, further erosion of institutional legitimacy, and rising tensions with the United States.

The U.S. administration intensified its “maximum pressure” policy, linking the Venezuelan government to narcotrafficking networks. Maritime interdictions and increased military deployment in the Caribbean followed.

Increased militarization of the crisis, heightened energy volatility, and legal debate over the use of force.

In January 2026, U.S. forces captured Nicolás Maduro in a military operation in Caracas. Delcy Rodríguez assumed as interim president amid external pressure and energy sector restructuring.

Opening of a politically fragile transition, externally conditioned institutional realignment, and ongoing economic uncertainty.