Interview, Fireside Chat, Conference Presentation
A Conversation with Venezuelan Democratic Leader Maria Corina Machado | Global Conference 2026
- Context of Interview: Nobel Peace Prize recipient María Corina Machado (whose daughter accepted the award) was interviewed regarding Venezuela's post-regime transition, following a "perilous journey" to escape the current regime.
- Current Status in Venezuela:
- Over 86% of the population currently lives in poverty.
- Annual inflation reached 650% as of the previous month.
- Public school teachers earn approximately $1 per day, resulting in classes occurring only twice a week.
- Approximately 3 million Venezuelans participated in a civil-society-organized primary election three years ago, where Machado won with 92% of the vote before being banned from candidacy by the regime.
- Recent polls show Machado leading the current president, Delcy Rodríguez, by a margin of roughly 75% to 25%.
- Economic Potential and Debt:
- The United States estimates Venezuela's economic upside potential at over $1.7 trillion.
- Venezuela's national debt is estimated at $190 billion, representing the highest debt-to-GDP ratio in the region.
- The current goal is to increase oil production from 1 million barrels per day to 5 million barrels per day.
- Machado proposes a "massive privatization process" for the oil and gas sector (upstream to downstream), limiting the government's role to regulation only.
- Three-Phase Transition Roadmap:
- Phase 1 (Electoral): Secretary of State Marco Rubio outlined a process to re-legitimize authorities via an electoral event, ideally occurring within the next 12 months.
- Phase 2 (Institutional): Immediate rebuilding of the rule of law; Venezuela currently ranks 143rd (last) globally in the World Judiciary System index for judicial independence.
- Phase 3 (Economic/Infrastructure): Implementation of a stabilization program, debt restructuring via the IMF, and massive infrastructure investments.
- Diaspora Strategy: A critical pillar involves recruiting millions of exiled Venezuelans to return as a capital resource for investment and family reunification.
- Justice and Accountability:
- Machado distinguishes between participants in a negotiated transition and those who committed crimes against humanity.
- Individuals linked to the regime will be invited to a reconciliation process with incentives; however, those accused of crimes against humanity will face justice via the International Criminal Court (ICC).
- Impunity is explicitly rejected as a condition for public acceptance of the transition.
- International Relations and Geopolitics:
- Machado acknowledges the Trump administration's "flawless" military operation but notes the current situation remains unstable and requires sustained U.S. pressure to ensure free elections.
- The regime is described as being supported by "criminal structures" including Cuba, Russia, Iran, Hezbollah, Hamas, and guerrilla groups.
- Machado asserts that 80% of the Venezuelan military supports the democratic transition, offering them a path to reintegration with society.
- The U.S. is positioned to leverage Venezuela's location for "nearshoring," capitalizing on critical minerals, gold, oil, and gas.
- Strategic Vision:
- The new government aims to be the "first nation built in the era of artificial intelligence," utilizing technology to leapfrog in energy, finance, and infrastructure.
- Machado emphasizes that the current Venezuelan generation is uniquely united around values of freedom, private property, and individual responsibility, making a return to populism less likely.
- Challenges and Risks:
- Machado warns that the regime will likely attempt to maneuver for a "rigged election" if not pressured by both international and domestic forces.
- She acknowledges the personal safety risks of returning to Venezuela, stating that "every Venezuelan worries about their safety."
- Establishing a functional, independent electoral system in a totally corrupt environment is estimated to take approximately 40 weeks (roughly 9 months).