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Country Risk

Continued economic intervention, regulatory intrusion likely following appointments of Venezuelan vice-president and head of constitutional assembly

21 June 2018

Event

The National Constituent Assembly (ANC) appointed Diosdado Cabello as its new head on 19 June.

Cabello, the deputy head of the ruling United Socialist Party of Venezuela (Partido Socialista Unido de Venezuela: PSUV) and a hardliner, was appointed following a cabinet reshuffle conducted by President Nicolás Maduro on 14 June, which saw the former head of the ANC, Delcy Rodriguez, appointed as the new executive vice-president. Rodríguez, in turn, replaced Tareck El Aissami who will now serve as vice-president for economic affairs and minister of industry and national production. The ANC is in charge of writing a new constitution, but in practice has de facto become a parallel legislature, side-lining the opposition-controlled National Assembly.

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