IBOV 168,164 ▼ 0.17% IPSA 10,811 ▼ 0.01% IPC MEX 68,275 ▼ 0.04% MERVAL 3,343,808 ▲ 1.58% COLCAP 2,410.74 ▲ 1.42% BVL PERÚ 58,000.52 ▲ 2.50% USD/BRL5.17▲ 1.16% USD/MXN17.35▲ 0.28% USD/CLP900.07▲ 1.06% USD/COP3,432▼ 0.03% USD/PEN3.38▲ 0.10% USD/ARS1,451▲ 0.62% USD/UYU39.97▲ 0.23% USD/PYG6,069▲ 1.27% USD/BOB6.86▲ 1.38% USD/DOP58.33▼ 0.29% USD/CRC450.55▲ 1.55% USD/GTQ7.62▲ 2.21% USD/HNL26.67▲ 0.47% USD/NIO36.62▲ 0.31% USD/VES600.83▲ 2.41% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.11▲ 0.27% USD/TTD6.70▲ 0.49% EUR/BRL5.93▲ 0.14% BRENT 79.58 ▲ 0.04% WTI 75.62 ▼ 1.52% IRON ORE 161.91 — — COPPER 6.38 ▼ 1.58% GOLD 4,233 ▼ 2.89% SILVER 65.72 ▼ 7.04% SOY 1,142 ▲ 0.88% CORN 417.50 ▼ 0.83% WHEAT 613.25 ▲ 0.08% COFFEE 265.80 ▼ 4.34% SUGAR 14.14 ▲ 2.09% ORANGE JUICE 158.85 ▲ 6.72% COTTON 79.33 ▲ 3.16% COCOA 4,254 ▲ 2.65% BEEF 246.75 ▼ 3.51% CATTLE 366.93 ▼ 0.14% LITHIUM 82.23 ▼ 1.02% PETR4 38.75 ▲ 0.47% VALE3 80.19 ▲ 0.51% ITUB4 40.66 ▲ 0.55% BBDC4 17.41 ▼ 0.80% ABEV3 16.16 ▼ 0.19% BBAS3 19.43 ▲ 0.10% B3SA3 14.24 ▼ 2.53% WEGE3 45.69 ▲ 4.32% PRIO3 56.89 ▲ 0.26% SUZB3 43.63 ▲ 3.32% RENT3 39.87 ▼ 1.65% AZZA3 16.30 ▼ 1.81% CSAN3 3.40 ▼ 2.02% RAIZ4 0.42 — 0.00% PCAR3 1.77 ▲ 5.36% GMAT3 3.82 ▼ 0.52% PSSA3 52.64 ▲ 2.11% CVCB3 1.23 ▼ 6.11% POSI3 3.80 ▲ 1.88% SLCE3 13.55 ▼ 1.45% NATU3 7.46 ▼ 4.73% BRKM5 7.64 ▼ 8.72% RANI3 7.85 ▼ 0.25% CSNA3 5.25 ▼ 6.75% CMIN3 4.24 ▼ 0.70% USIM5 9.15 ▼ 4.29% GGBR4 21.77 ▼ 4.56% ENEV3 24.02 ▼ 0.25% NEOE3 33.80 — 0.00% CPFE3 44.12 ▲ 1.59% CMIG4 10.73 ▲ 0.85% EQTL3 37.06 ▼ 0.08% LREN3 13.93 ▼ 3.60% VIVT3 32.78 ▼ 0.24% RAIL3 12.33 ▼ 0.96% KLABIN 17.23 ▲ 1.59% RAIA DROGASIL 16.61 ▼ 5.14% RDOR3 33.14 ▲ 0.06% HAPV3 10.48 ▼ 0.95% FLRY3 14.78 ▲ 0.61% SMTO3 14.86 ▼ 4.31% UGPA3 24.75 ▲ 2.32% VBBR3 28.57 ▲ 0.88% BBSE3 39.54 ▲ 0.61% BPAC11 50.74 ▲ 0.69% CURY3 32.51 ▲ 1.98% AERI3 2.26 ▼ 0.44% VIVARA 20.99 ▲ 1.30% COMPASS 24.73 ▼ 1.08% VAMOS 2.69 ▼ 0.74% SANB11 26.68 ▼ 1.48% ASAI3 7.61 ▼ 2.44% SBSP3 26.86 ▼ 2.19% WALMEX 50.16 ▼ 3.15% GMEXICO 214.80 ▲ 0.05% FEMSA 219.28 ▲ 0.49% CEMEX 22.24 ▲ 1.83% GFNORTE 191.67 ▲ 0.29% BIMBO 56.95 ▼ 1.33% TELEVISA 10.44 ▼ 0.67% AMX 22.98 ▲ 0.26% GAP 441.14 ▲ 2.21% ASUR 308.00 ▲ 2.19% OMA 247.06 ▲ 1.96% KOF 189.66 ▲ 1.91% GRUMA 288.50 ▼ 1.37% KIMBER 37.00 ▼ 2.45% SQM-B 71,640 ▼ 3.25% COPEC 5,879 ▼ 1.85% BSANTANDER 73.62 ▲ 1.25% FALABELLA 6,027 ▼ 0.42% ENELAM 76.59 ▼ 0.48% CENCOSUD 2,145 ▲ 1.66% CMPC 1,050 ▼ 1.38% BANCO CHILE 180.51 ▲ 0.84% LATAM AIR 25.10 ▲ 3.38% YPF 76,450 ▼ 0.29% GGAL 8,485 ▲ 1.43% PAMPA 5,260 ▲ 2.04% TXAR 682.50 ▲ 0.52% ALUAR 1,013 ▲ 1.20% TGS 9,585 ▲ 0.37% CEPU 2,355 ▼ 0.76% MIRGOR 16,700 ▼ 0.89% COME 45.98 ▲ 2.13% LOMA NEGRA 3,640 ▲ 1.82% BYMA 326.75 ▲ 4.14% TELECOM ARG 4,183 ▼ 4.40% ECOPETROL 16.69 ▲ 6.51% BANCOLOMBIA 81.77 ▲ 2.29% GRUPO AVAL 5.72 ▲ 2.49% CREDICORP 383.65 ▼ 0.85% SOUTHERN COPPER 192.78 ▲ 0.57% BUENAVENTURA 32.69 ▼ 4.53% MERCADOLIBRE 1,622 ▼ 0.59% NUBANK 12.75 ▼ 1.09% XP 15.25 ▼ 1.13% PAGSEGURO 8.77 ▼ 1.63% STONE 10.62 ▼ 1.44% GLOBANT 31.37 ▼ 9.36% TECNOGLASS 46.19 ▲ 2.34% 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GOLD 4,233 ▼ 2.89% SILVER 65.72 ▼ 7.04% SOY 1,142 ▲ 0.88% CORN 417.50 ▼ 0.83% WHEAT 613.25 ▲ 0.08% COFFEE 265.80 ▼ 4.34% SUGAR 14.14 ▲ 2.09% ORANGE JUICE 158.85 ▲ 6.72% COTTON 79.33 ▲ 3.16% COCOA 4,254 ▲ 2.65% BEEF 246.75 ▼ 3.51% CATTLE 366.93 ▼ 0.14% LITHIUM 82.23 ▼ 1.02% PETR4 38.75 ▲ 0.47% VALE3 80.19 ▲ 0.51% ITUB4 40.66 ▲ 0.55% BBDC4 17.41 ▼ 0.80% ABEV3 16.16 ▼ 0.19% BBAS3 19.43 ▲ 0.10% B3SA3 14.24 ▼ 2.53% WEGE3 45.69 ▲ 4.32% PRIO3 56.89 ▲ 0.26% SUZB3 43.63 ▲ 3.32% RENT3 39.87 ▼ 1.65% AZZA3 16.30 ▼ 1.81% CSAN3 3.40 ▼ 2.02% RAIZ4 0.42 — 0.00% PCAR3 1.77 ▲ 5.36% GMAT3 3.82 ▼ 0.52% PSSA3 52.64 ▲ 2.11% CVCB3 1.23 ▼ 6.11% POSI3 3.80 ▲ 1.88% SLCE3 13.55 ▼ 1.45% NATU3 7.46 ▼ 4.73% BRKM5 7.64 ▼ 8.72% RANI3 7.85 ▼ 0.25% CSNA3 5.25 ▼ 6.75% CMIN3 4.24 ▼ 0.70% USIM5 9.15 ▼ 4.29% GGBR4 21.77 ▼ 4.56% ENEV3 24.02 ▼ 0.25% NEOE3 33.80 — 0.00% CPFE3 44.12 ▲ 1.59% CMIG4 10.73 ▲ 0.85% EQTL3 37.06 ▼ 0.08% LREN3 13.93 ▼ 3.60% VIVT3 32.78 ▼ 0.24% RAIL3 12.33 ▼ 0.96% KLABIN 17.23 ▲ 1.59% RAIA DROGASIL 16.61 ▼ 5.14% RDOR3 33.14 ▲ 0.06% HAPV3 10.48 ▼ 0.95% FLRY3 14.78 ▲ 0.61% SMTO3 14.86 ▼ 4.31% UGPA3 24.75 ▲ 2.32% VBBR3 28.57 ▲ 0.88% BBSE3 39.54 ▲ 0.61% BPAC11 50.74 ▲ 0.69% CURY3 32.51 ▲ 1.98% AERI3 2.26 ▼ 0.44% VIVARA 20.99 ▲ 1.30% COMPASS 24.73 ▼ 1.08% VAMOS 2.69 ▼ 0.74% SANB11 26.68 ▼ 1.48% ASAI3 7.61 ▼ 2.44% SBSP3 26.86 ▼ 2.19% WALMEX 50.16 ▼ 3.15% GMEXICO 214.80 ▲ 0.05% FEMSA 219.28 ▲ 0.49% CEMEX 22.24 ▲ 1.83% GFNORTE 191.67 ▲ 0.29% BIMBO 56.95 ▼ 1.33% TELEVISA 10.44 ▼ 0.67% AMX 22.98 ▲ 0.26% GAP 441.14 ▲ 2.21% ASUR 308.00 ▲ 2.19% OMA 247.06 ▲ 1.96% KOF 189.66 ▲ 1.91% GRUMA 288.50 ▼ 1.37% KIMBER 37.00 ▼ 2.45% SQM-B 71,640 ▼ 3.25% COPEC 5,879 ▼ 1.85% BSANTANDER 73.62 ▲ 1.25% FALABELLA 6,027 ▼ 0.42% ENELAM 76.59 ▼ 0.48% CENCOSUD 2,145 ▲ 1.66% CMPC 1,050 ▼ 1.38% BANCO CHILE 180.51 ▲ 0.84% LATAM AIR 25.10 ▲ 3.38% YPF 76,450 ▼ 0.29% GGAL 8,485 ▲ 1.43% PAMPA 5,260 ▲ 2.04% TXAR 682.50 ▲ 0.52% ALUAR 1,013 ▲ 1.20% TGS 9,585 ▲ 0.37% CEPU 2,355 ▼ 0.76% MIRGOR 16,700 ▼ 0.89% COME 45.98 ▲ 2.13% LOMA NEGRA 3,640 ▲ 1.82% BYMA 326.75 ▲ 4.14% TELECOM ARG 4,183 ▼ 4.40% ECOPETROL 16.69 ▲ 6.51% BANCOLOMBIA 81.77 ▲ 2.29% GRUPO AVAL 5.72 ▲ 2.49% CREDICORP 383.65 ▼ 0.85% SOUTHERN COPPER 192.78 ▲ 0.57% BUENAVENTURA 32.69 ▼ 4.53% MERCADOLIBRE 1,622 ▼ 0.59% NUBANK 12.75 ▼ 1.09% XP 15.25 ▼ 1.13% PAGSEGURO 8.77 ▼ 1.63% STONE 10.62 ▼ 1.44% GLOBANT 31.37 ▼ 9.36% TECNOGLASS 46.19 ▲ 2.34% GAP AIRPORT 253.50 ▲ 1.97% ASUR 308.00 ▲ 2.19% OMA AIRPORT 113.76 ▲ 2.00% AMX ADR 26.42 ▼ 0.11% FEMSA ADR 126.47 ▲ 0.72% CEMEX ADR 12.82 ▲ 1.75% PETROBRAS ADR 16.67 ▼ 0.71% VALE ADR 15.46 ▼ 0.48% ITAU ADR 7.83 ▼ 1.82% SANTANDER BR 5.22 ▼ 2.79% AMBEV ADR 3.12 ▼ 0.80% CSN 1.03 ▼ 8.48% GERDAU 4.21 ▼ 6.35% LATAM ADR 55.90 ▲ 2.49% BTC 62,928 ▼ 2.31% ETH 1,706 ▼ 2.42% SOL 69.39 ▼ 3.53% XRP 1.14 ▼ 3.45% BNB 578.50 ▼ 3.74% ADA 0.16 ▼ 2.04% DOGE 0.08 ▼ 3.40% AVAX 6.36 ▼ 5.80% LINK 7.93 ▼ 1.86% DOT 0.96 ▼ 3.81% LTC 43.53 ▼ 2.97% BCH 198.29 ▼ 6.58% TRX 0.32 ▼ 0.56% XLM 0.24 ▲ 4.77% HBAR 0.08 ▼ 1.10% NEAR 2.20 ▲ 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Latest News Venezuela Transformation

Venezuela’s Opposition Is Free to Speak, Not Free to Lead

By · February 26, 2026 · 3 min read

Daily Brief

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Key Points

Nearly two months after the U.S. captured Maduro, Venezuela’s opposition parties are emerging from hiding — but find a society paralyzed by fear and a leadership scattered across exile, prison, and clandestinity.
The new amnesty law has freed over 3,200 people, yet excludes military prisoners, exiled leaders face legal obstacles to return, and the regime confiscated the home of a senior opposition official the same week it signed the legislation.
Two opposing strategies are forming: moderates allied with Chavismo seek incremental change through dialogue, while the Plataforma Unitaria coalition demands street mobilization and genuine elections — but its most popular leaders remain abroad.

Andrés Velásquez, Delsa Solórzano, Henry Ramos Allup — these are names that once drove millions into the streets across Venezuela. After years underground, they are only now beginning to speak publicly again. The problem is that the country they are resurfacing into is not yet the one they were promised.

This is part of The Rio Times’ daily coverage of Venezuela news and Latin American financial news.

Acting President Delcy Rodríguez signed an amnesty law on February 19. Over 4,200 applications have been filed and more than 3,200 people fully released. But the Plataforma Unitaria, the main opposition coalition, held its first press conference in nearly two years on February 23 to deliver a blunt verdict: the transition has not started.

Freedom With Fine Print

The amnesty covers political offenses dating back to 1999 and includes protesters detained after the contested 2024 election, when over 2,000 people were arrested. But it excludes military personnel convicted of rebellion and anyone accused of facilitating foreign actions against Venezuelan sovereignty.

Venezuela’s Opposition Is Free to Speak, Not Free to Lead. (Photo Internet reproduction)
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That last clause targets María Corina Machado, the Nobel Peace Prize laureate and most popular opposition figure, whom the Rodríguez government accuses of inviting U.S. intervention. The same week the law was signed, authorities confiscated the home of Magalli Meda, Machado’s 2024 campaign manager. Foro Penal called the exclusions discriminatory and unconstitutional.

A Divided Opposition in a Country Still Afraid

Years of persecution have gutted the organizational capacity of parties like Voluntad Popular, Primero Justicia, and Vente Venezuela. Their most experienced leaders — Machado, Edmundo González Urrutia, Leopoldo López, Julio Borges — are all abroad. Interior Minister Diosdado Cabello, the regime’s enforcer, told legislators after Maduro‘s capture that he intended to keep dismantling the opposition.

Inside Venezuela, the Plataforma Unitaria insists it maintained organizational continuity even through clandestinity. Solórzano said parties are already visiting working-class neighborhoods and coordinating with prisoners’ families. But analysts see structural limits.

Two Paths, Neither Clear

A moderate faction — including Un Nuevo Tiempo, parts of Primero Justicia under Henrique Capriles, and smaller legislative parties — has chosen to work within Chavismo’s institutional framework, participating in Assembly debates and helping draft the amnesty. They are critical of Machado and believe incremental engagement is the only realistic path.

The Plataforma Unitaria majority rejects that approach. It demands recognition of the 2024 election results, full prisoner releases, and genuinely free elections — conditions Rodríguez has refused to set a timeline for, even as Washington presses for democratic benchmarks in exchange for oil investment.

Guillermo Aveledo Coll, a political analyst and Dean of Law and Political Studies at Caracas’s Universidad Metropolitana, captures the paradox precisely: the opposition groups with popular legitimacy have no access to institutional power, while those who have gained access to decision-making corridors lack any clear social mandate. In post-Maduro Venezuela, winning the streets and winning the halls of power remain two entirely separate contests.

 

For more context, read Brazil’s Morning Call and the Ibovespa market report.

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