Elections in Venezuela: a crossroads that will define the country's future.

The figure of Miguel Ángel Santos resonates strongly in the political and economic context of Venezuela, especially as a presidential election, considered crucial for the country's future, approaches. At 53 years old, Santos, an economist and dean of the School of Government and Public Transformation at the Tecnológico de Monterrey, has been a critical observer of the development of the Venezuelan economy and the dynamics of power in the country. His analysis suggests that the election next Sunday is not just another electoral event but a crossroads that could define the nation's course. Santos emphasizes that the Venezuelan economy has arrived at this election in an alarming state, barely recovering from a historic collapse that has left deep scars. Although a slight recovery has been mentioned since 2021, the numbers are misleading. According to Santos, the country has lost 75% of its GDP between 2014 and 2021, and the current "recovery" is, in reality, a rebound from destructive levels. To put this in perspective, while in the first decade of the 21st century each Venezuelan enjoyed about 40 to 45 barrels of oil per year, today that figure has dropped to just eight barrels. The impact of this crisis has manifested not only in the economy but also in the country's demographics, with a diaspora that has seen between seven and eight million Venezuelans leave their homes in search of better opportunities. Santos notes that this situation has created a breeding ground for social discontent that could be crucial in the elections, where the opposition has the chance to confront the regime of Nicolás Maduro. In this context, the question arises as to whether the elections could mark the end of the "Maduro model," a strategy that, according to Santos, has allowed the government to remain in power despite the economic devastation. While there is talk of a possible easing of sanctions if Maduro wins, Santos warns that this would not be enough to reverse the crisis. The economist argues that even if the regime adapts and shows signs of economic recovery, the structural conditions that led to the disaster would remain unresolved. A distinctive aspect of these elections is the unity within the opposition, something that has not been seen in years. Santos indicates that the leadership of María Corina Machado, who has won primary elections with overwhelming support, has brought together various political factions in a context where dissatisfaction with Maduro's government has reached unprecedented levels. The experience of the past, where the opposition failed to consolidate around a strong leader, makes this new dynamic promising, although still filled with challenges. If the opposition wins, Santos outlined a clear plan for economic reconstruction. The first of these steps would involve re-establishing the market mechanisms that were dismantled during years of state control. This would allow resources to flow into productive areas and could initiate a cycle of investment and growth. However, restructuring the overwhelming external debt is an equally crucial step, as the Venezuelan economy cannot sustain itself with such a high debt burden. The economist does not stop at analyzing an optimistic scenario. If Maduro remains in power, he warns that there will be no significant recovery and that the situation of poverty and migration will continue to worsen. Santos is emphatic in his assertion: without a political transition, Venezuela will not be able to attract the investment it needs to heal its wounds. In his view, the international recognition of a potential victory for Maduro would not change this bitter reality. The magnitude of what is at stake in these elections is a topic that should not be taken lightly. Santos is clear: we are facing one of the most important elections in the recent history of the country, where the consequences could be drastic for Venezuela's future. As the voting day approaches, the eyes of the world are focused on Venezuela, anticipating not just an election but a possible change in direction that could define the nation's history for decades. In a country where polarization has been the norm and expectations have been deeply clouded by despair, it is essential for citizens to make an informed decision. The words of Miguel Ángel Santos resonate as a call to action, reminding that the possibility of a better future depends on the will of voters in an electoral scenario that could be the most momentous in the recent history of Venezuela. Next week, the fate of many will be in the hands of those who choose to go out and vote.