A historic opening like this does not come twice, and the months ahead give Venezuela a chance to build institutions sturdy enough to outlast any single leader. Holding free and fair elections before turning Venezuela's wrecked economy into a functioning one with sustained growth would be counterproductive, so the focus right now must be on guaranteeing private property, access to financing and drawing real investment.
Rebuilding the judiciary and electoral authority makes sense first, since no democracy survives on the ruins Chavismo has left behind. But stabilization stretched out indefinitely, with no voting calendar, risks cementing the very people who ought to be leaving power. Setting a presidential election for 2027 may be the difference between a genuine transition to democracy and a repackaged autocracy.
Under the interim leadership of Delcy Rodríguez since the kidnapping of President Nicolás Maduro and his wife in January, Venezuela has been forced into a negotiated sovereignty as the threat of the U.S. imposing a blockade, carrying out a large-scale invasion or installing a far-right puppet regime continues to loom over the country. Venezuelans will continue to resist.
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