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World

Venezuelan President declares emergency

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World

Venezuelan President declares emergency

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00:00:00
>> Venezuela!>> Amid growing unrest in a worsening economic crisis, Venezuelan President Nicolas Maduro declared a 60-day state of emergency on Friday, due to what he called plots from within his country and the United States to topple his government. On Friday, US intelligence officials saying they were increasingly worried about the potential for an economic and political meltdown in Venezuela, spurred by fears of a debt default, growing street protests, and a deterioration of its oil sector.
00:00:27
Residents there have endured food and medicine shortages, frequent power cuts, sporadic looting, and galloping inflation. Venezuela's opposition said it delivered 1.85 million signatures to the country's election authority in early May, in a bid seeking a recall referendum against President Maduro. Earlier this week, opposition supporters clashed in the streets demanding to remove the president.
00:00:50
US officials predicting Maduro was not likely to complete his term, which ends in 2019. Maduro accused the US of fomenting an undercover coup against him and pointed to this week's impeachment of fellow leftist Dilma Rousseff in Brazil as a sign that he is next. On Friday, Maduro said his emergency measure will provide him the power to, quote, defend the country against the threats of an economic war.
00:01:13
What those powers are exactly, he did not say.