Chavez's Supporters Face Rare Defeat in Venezuelan Elections
- But few expect quick change even if the socialists lose
- Instability possible as Maduro vows to continue the revolution
Venezuelan opposition supporters demonstrate during a rally in Caracas on Nov. 13.
Photographer: Wilfredo Riera/BloombergThis article is for subscribers only.
Plagued by rampant crime, unbridled corruption and unprecedented economic contraction, Venezuela elects a new legislature on Sunday, with the opposition on the verge of a decisive victory for the first time in 16 years. But rather than propel the country onto a stabler path, the vote seems just as likely to bog it down into further dysfunction.
The gross domestic product of oil-rich Venezuela will shrink 10 percent this year -- more than that of any country in the world -- according to forecasts by the International Monetary Fund.