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Venezuela Presidential Election Date Announced

LATIN AMERICA
  • Venezuela’s electoral commission has officially announced that the 2024 presidential election will be held on July 28th, ending speculation over when polls will be held as political repression remains heightened.
  • The Wall Street Journal reported that this sets the stage for an election in which authoritarian President Nicolás Maduro is likely to run without any credible challenger and raises the possibility that the Biden administration would reimpose sanctions on Venezuela's oil industry.
  • JPMorgan noted the definition of an election date has been seen as a key signpost for the longevity of the severely hobbled Barbados agreement. The date technically complies with the 2H24 stipulation in the agreement, but this relatively early date sets the rest of the electoral calendar on an expedited schedule that reduces the likelihood that the remaining political and technical guarantees embedded in Barbados can be fully met. Consequently, the path towards a minimally recognized set of electoral conditions is narrowing, according to JPM.

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