Venezuela cabinet reshuffle points up Maduro weakness

Significance

With the backing of the Supreme Court, which confirmed his electoral victory with 52% of the vote, Maduro is pressing on, putting the disputed presidential election behind him and preparing for a third term in office. The appointments are uninspiring, an exercise in recycling the established elites of the ruling party.

Impacts

• The cabinet reshuffle signals Maduro’s weakness and reliance on key ruling party and military elites.
• The new Oil Ministry and PDVSA team will not boost investor confidence, even among companies accustomed to working in hostile environments.
• Hemispheric neighbours including the United States, Brazil and Colombia have limited capacity to influence and intervene.