Venezuelans are scheduled to vote for president on July 28th. In today’s episode, we look at the state of the negotiations between the dictatorship of Nicolás Maduro and the opposition, assess how inclined Maduro is to accept a possible defeat and if there’s any chance for a transition to democracy. The opposition candidate Edmundo González Urrutia, a former diplomat and academic, has about 60% support in polls, compared to support of just 9% support for President Maduro. Our guest is Michael Penfold, Professor at the Instituto de Estudios Superiores de Administración (IESA), Global Fellow at the Wilson Center and author of El país que se muerde la cola (2023).