![]() ![]() ![]() This plan set up so-called “Bolivarian Missions” dedicated to expanding social services and cutting poverty. Upon assuming the presidency, Chavez launched a massive anti-poverty program that he called Plan Bolivar 2000. Chavez would go on to win the election with 56% of the popular vote. During his campaign, he promised to stamp out corruption, improve the country’s struggling economy, and use Venezuela’s oil wealth to reduce poverty and inequality in the country. In the midst of these hard times, Hugo Chavez ran for the Venezuelan presidency. In 1998, when presidential elections in Venezuela were to be held, the price of oil crashed again, worsening the country’s economy. He and his insurgents were pardoned two years later, however, in an attempt to quell unrest in the country related to a domestic banking crisis. For these attempts to seize power, Chavez was imprisoned. In 1992, Chavez and his supporters launched two unsuccessful coup attempts. It would be a week before the riots subsided. The Venezuelan government responded by imposing martial law. In 1989, riots broke out across the country. ![]() In response, Venezuelan President Carlos Andres Perez implemented austerity measures backed by the International Monetary Fund (IMF), which included removing gas subsidies, long a staple of life in the oil-rich country. Venezuela suffered mightily when oil prices crashed in the mid-1980s. At first, he and his supporters attempted to seize power by force, against a backdrop of economic crisis and unrest in the country. Hugo Chavez first appeared on the scene in Venezuela as a colonel in the country’s military. The Rise Of Hugo Chavez Former Venezuelan President Hugo Chavez at a military parade in Caracas in 2010. Other cities with one million or more inhabitants include Maracaibo, Maracay, and Valencia. Caracas, Venezuela’s capital, is also the country’s largest city, with about 3 million people residing therein. It is estimated that about half of Venezuela’s population is Mestizo (people of mixed European and indigenous descent), while 42.5% are of European descent, 3.5% of African descent, 2.5% of indigenous descent, and 1.2% belonging to other groups. This population contains a mixture of people of European, African, and indigenous descent. Venezuela’s population is approximately 28.3 million. Today, Venezuela is known to have the world’s largest share of oil reserves, at 18.2% of the world’s total. In 1830, however, Venezuela split off from Gran Columbia to become a separate country. The country was once part of Gran Columbia, the independent country created by Simon Bolivar, who was born in Venezuela, and who led the struggle for the independence of Spanish South America from Spain. ![]() It is bordered to the north by the Caribbean Sea, to the south by Brazil, to the east by Guyana, and to the west by Columbia. Venezuela is a country in northern South America. But despite initial successes, Chavez’s reforms would lead what was once a rich country into an economic abyss, which would eventually result in the creation of one of the world’s largest migrant crises. These promises won him the election, and once he assumed the presidency, Chavez set about reforming the country into what he believed would be a more just society. In 1998, however, a man named Hugo Chavez ran for the Venezuelan presidency, promising to address the rampant poverty and social inequality in the country. But despite its oil riches, socio-economic problems have continuously plagued the South American country. Venezuela is the most oil-rich country in the world. Venezuela has the world's largest oil reserves.Venezuela now has two men who claim to be the country's legitimate president.Venezuela now suffers shortages of basic goods, including fuel, electricity, and even clean water.About 5.4 million people have fled Venezuela to escape the harsh economic conditions in the country.Hugo Chavez, who assumed Venezuela's presidency in 1999, instituted policies that led to the sharp decline of the country's economy.Image of the Venezuelan national flag symbolizing the crisis. Venezuela is facing a socio-economic and political crisis. ![]()
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