August 18, 2004

Venezuela Referendum Update.

MABB is a registered TM.

The votes are casted. The veredict is out. At least for now.

About 58 per cent of Venezuelans opted to keep President Chavez in office. That is the result of last Sunday's referendum.

Mr. Chavez looked relieved and a bit more secure. On the other hand, as expected, the opposition cried foul!

The ones who are in a difficult position now are the international observers, Mr. Gaviria and Mr. Carter. They said, as far as they know, the voting was regular and clean. However, they want to conduct random audits to appease the critics.

Mr. Chavez's opposition do not want to accept this result nor they want to take part in the audits. They assure they found clear evidence the vote was rigged and will opt for other measures.

What will come of the situation? It is a tough one to call.