Andre Pichette/CP Freeland and Peru's Foreign Minister Nestor Francisco Popolizio Bardales briefing the press following the 10th ministerial meeting of the Lima Group in Ottawa, Canada, Feb. 4, 2019.

OTTAWA — Canada and its allies are well down the road to crafting a long-term, post-Maduro recovery plan for Venezuela's disastrous economic decline, Foreign Affairs Minister Chrystia Freeland said Monday night. And she said Canada and its allies are looking at ways of ratcheting up sanctions on Nicolas Maduro, Venezuela's socialist leader, so they will have "more bite." "Work is very much underway at quite a high level of detail on ways to support Venezuela the day after the democratic transition," Freeland said Monday from Colombia after a day-long meeting of the Lima Group countries that also includes the United States. She said work is being done with opposition leader Juan Guaido as well as international financial institutions because there needs to be a plan to help Venezuela recover from hyper inflation and a massive humanitarian crisis that includes shortages of food and medicine.

Sean Kilpatrick/CP Freeland takes part in a closing press conference with members of the Lima Group in Ottawa on Feb. 4, 2019.

"A lesson of history is those initial days after a democratic transition can sometimes be the most difficult," she said. "I think medium and long term, Venezuela's prospects are excellent but there is a crisis today and part of our responsibility is to help the interim government have a really clear and effective plan." In the shorter term, she echoed U.S. Vice President Mike Pence, who announced new sanctions on supporters of Maduro as the U.S., Canada, its Latin American allies in the Lima Group and dozens of other countries seek to propel Guaido into power. "They are the ones who are committing flagrant abuses of human rights in Venezuela, who have systematically dismantled Venezuela's democracy," Freeland said. "We are discussing with our partners now ways that sanctions list can be expanded in order to have even more bite." Pence called on Canada and its Lima Group allies to transfer frozen Venezuelan assets in a speech at their summit in Colombia. Channeling frozen Venezuelan assets to anti-Maduro forces could pump billions into the coffers of the country's pro-democracy movement, say Canadian analysts. Watch: Lima Group says Guaido faces credible threats to his life. Story continues below.