Venezuela’s opposition refused on Friday to approve President Nicolas Maduro’s “economic emergency” decree in Congress, saying it offered no solutions for the OPEC nation’s increasingly disastrous recession. Underlining the grave situation in Venezuela, where a plunge in oil prices has compounded dysfunctional policies, the International Monetary Fund (IMF) on Friday forecast an 8 percent drop in gross domestic product and 720 percent inflation this year. “The people voted for a change, not a failed communist model,” said Elias Mata, vice-president of a commission studying the decree at the National Assembly which the opposition won from the ruling Socialists in a December vote. Maduro’s decree, issued a week ago, would […]