In Venezuela, Things Will Get Worse Before They Get Better

Segments of Venezuela's opposition are laying the groundwork for a political confrontation with the presidency. There is a draft law in the National Assembly that could be used to effectively cut short the tenure of President Nicolas Maduro. Depending on how the legislative process plays out, Venezuela could become highly politically unstable in the near term. But even if the country avoids political upheaval, the long-term picture is still bleak. The next government — whether it comes to power soon or after presidential elections in 2019 — will have to oversee a major economic adjustment and cope with the ensuing threat of social upheaval.