Results are in for Venezuela's election and the outcome could lead to more economic

uncertainty.

Live from the UK, this is the Marketplace Morning Report from the BBC World Service.

I'm Leanna Byrne and a very good morning to you.

Venezuelan President Nicolas Maduro is held onto power after a highly disputed election.

Soy Nikola Madura President de Ralato of the Republic of Liberian of Venezuela.

The result was met with accusations of fraud from the opposition who claimed their candidate

Edmondo Gonzalez actually won. the

political turmoil adds to the country's severe economic woes which has led to a massive migration crisis.

Let's talk about all this with the BBC's Gideon Long. Hello?

Hi Leanna.

Gideon, the situation is quite fluid at the moment, isn't it?

It is quite fluid and we'll have to wait and see what happens over the next few months

and if indeed Nicholas Maduro does

continue to be the president of Venezuela but let's assume that he has he faces

enormous economic challenges the main one as is always the case in Venezuela, is to do with oil. It accounts for

around 90% of Venezuela's exports. The US used to be the big buyer of Venezuelan oil, but

has imposed sanctions in recent years and so Venezuela has had to look to

skirt those sanctions by selling to other countries and that will remain the big challenge for the country

economically apart from that, Madodo will also have to look to try and diversify away from oil and encourage

other parts of the economy. That is not going to be easy. The country is so dependent on oil revenue.

And all of these economic problems, it's led to mass migration, hasn't it Gideon?

...