Soaring Crime Rate and Dismal Growth Threaten Chavez Reelection

0 Posted by - September 20, 2012 - Career & Business, Economics, Foreign Affairs

2012 09 20T194352Z 1 CBRE88J1IT800 RTROPTP 2 VENEZUELA ELECTION 300x200 Soaring Crime Rate and Dismal Growth Threaten Chavez ReelectionAfter 14 years in power, Venezuelan President Hugo Chavez faces his toughest election yet, as he deals with a strong opposition candidate and national doubts about his health. Chavez’s biggest obstacle in his re-election campaign, however, may be his own record in office.

A soaring crime rate and doubts over whether the populist leader could have done more with the country?s vast oil wealth continue to hound him in the final weeks of his campaign.

“It’s overwhelmingly clear that Venezuela has wasted the windfall,” said Francisco Monaldi, an economist and director of the International Center of Energy and the Environment at Caracas’ IESA business school, according to the Associated Press. “You should have had much greater economic growth, much greater reduction of poverty.”

CONTINUED at Fox News Latino.

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