The Growing Bifurcation in Venezuela's Transition

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Yesterday I did an radio interview on The World (listen on player above). The upshot is that there is a growing distance between the changes happening in terms of international relations and economic investment, and the experience of Venezuelans on the ground.

Everyday there seems to be some new development in the normalization of relations between the U.S. and Venezuela—the recognition of Delcy Rodriguez as president, the lifting of sanctions on her—and in foreign investment. At the same time, March saw inflation at an annual rate above 600%, and a great majority of Venezuelans say they have not seen economic improvements since the January 3, 2026 military operation.

As well, while the Rodriguez government is actively trying to portray itself as the carriers of change—changing some of the iconic images of Chavismo. However, these changes are accompanied by other changes, such as the naming of hardliner Gen. Gustavo Gonzalez López as Minister of Defense that suggest repression will not disappear soon.