Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Venezuela's ruling party wins 20 governorships - electoral authority

Published 11/21/2021, 12:42 AM
Updated 11/22/2021, 04:21 AM
© Reuters. FILE PHOTO: A member of the Bolivarian National Guard takes pictures of the electoral materials during preparations for the regional and local elections on Sunday, in Caracas, Venezuela, November 19, 2021. REUTERS/Leonardo Fernandez Viloria/File Photo

By Vivian Sequera and Mayela Armas

CARACAS (Reuters) -Venezuela's National Electoral Council (CNE) awarded victory to the ruling Socialist party in 20 governorships and three to opposition politicians in an initial announcement on Monday following local and regional elections.

Shortly after the first results were published, leftist President Nicolas Maduro celebrated the government's triumph.

"The victory is impressive," Maduro said, surrounded by supporters, adding that "good wins must be celebrated."

The results are a setback for the opposition https://www.reuters.com/world/americas/venezuelan-opposition-calls-change-campaign-wraps-up-2021-11-18 leaders who returned to the fray after boycotting presidential polls in 2018 and congressional elections in 2020, arguing that a fair vote was impossible due to rigging and intimidation by violent gangs loyal to Maduro.

This year, the opposition politicians decided to contest the elections as they were frustrated by the failure of U.S. sanctions to dislodge Maduro, as well as emboldened by the presence of election observers from the European Union https://www.reuters.com/world/americas/back-venezuela-eu-observers-plead-patience-ahead-elections-2021-11-15.

Only 41.8% of registered voters turned out to cast their ballot on Sunday, equivalent to some 8.1 million people, the South American country's top electoral authority said.

"Small and isolated problems" were registered during the course of voting, the CNE said earlier in the day.

In 2017's regional elections the ruling party won 19 governorships, while opposition politicians took four.

The only mayoral result announced in the CNE's first bulletin came from the capital Caracas - where the ruling party was also declared the victor.

Citizens cast their votes for over 3,000 state governors, mayors and city councils across the country, with 21 million Venezuelans registered to take part in the elections.

'LAMENTABLE FOR THE OPPOSITION'

The poor performance by the opposition could hurt its ability to contest the presidential elections in 2024.

"This result is lamentable for the opposition," Luis Vicente Leon, director of local consulting firm Datanalisis, said in a post on Twitter (NYSE:TWTR).

Opposition leader and former presidential candidate Henrique Capriles, who led the opposition campaign, said via Twitter that an assessment will be made when all the results are in and did not give further details.

© Reuters. A man has his hands sanitized before entering a polling station during the elections for state governors and local mayors, in Caracas, Venezuela November 21, 2021. REUTERS/Leonardo Fernandez Viloria

"The takeaway from these results is that we must rethink our strategy so far," Tomas Guanipa, the opposition candidate for the mayor of Caracas, said.

"What is undeniable is that the vast majority of this country wants change, and that is why we have to fight."

Latest comments

The election is fixed. Only naieve voters vote
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.