On Thursday, the newly reelected president of Venezuela, Nicolás Maduro, took his oath of office in front of the National Constituent Assembly. His new term will begin in 2019 and last to 2025.
The Venezuelan president thanked the countries that have offered him support after his triumph in the May 20th elections, including the People's Republic of China.
The president said that the focus of his new government will be on dialogue, peace, and an agreement on an approach to the economy. The Venezuelan economy has been in freefall for the last few years, with the inflation rate at nearly 14 thousand percent.