Weekly Report - 24 June 2021 (WR-21-25)

VENEZUELA: Turning towards capitalism?

A press conference held on 18 June by President Nicolás Maduro’s son, Nicolás Maduro Guerra, saw one of the most striking acknowledgements from Venezuela’s government that the socialist policies that have prevailed since the start of the Bolivarian Revolution under Hugo Chávez (1999-2013) have failed to deliver prosperity. Saying that the government’s expropriations of private companies “haven’t done us good,” Maduro Guerra spoke of the need to rebuild investor confidence, arguing that the government’s bill to create special economic zones represents a step in the right direction.

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