Miami/Caracas — Venezuelan President Nicolas Maduro faced growing pressure to cancel plans to rewrite the constitution on Monday with an emboldened opposition calling for a 24-hour strike this week and US President Donald Trump warning of "strong and swift economic actions". A day after 7.5-million Venezuelans participated in an unofficial referendum to reject the constituent assembly and to call for fresh elections, the US intensified its criticism of the government. Maduro has yet to comment on the results of the referendum, while other government officials have taken to state television and accused the opposition of overcounting votes. "The US will not stand by as Venezuela crumbles," Trump said in a statement released by the White House. "If the Maduro regime imposes its Constituent Assembly on July 30, the US will take strong and swift economic actions." Venezuela’s economy is already in a tailspin after a commodity-price collapse was compounded by years of mismanagement. Tripl...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.