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The Bolivarian Revolution is a social revolution and ongoing political process in Venezuela that was started by Venezuelan President Hugo Chávez, the founder of the Fifth Republic Movement and later the United Socialist Party of Venezuela (PSUV), and his successor Nicolás Maduro.
It is the worst economic crisis in Venezuela's history, and the worst facing a country in peacetime since the mid-20th century. The crisis is often considered more severe than the Great Depression in the United States, the 1985–1994 Brazilian economic crisis, or the 2008–2009 hyperinflation in Zimbabwe. [5]
The socialist transformation of Venezuela traces back to the 1973 election of President Carlos Andrés Pérez. ... The political and economic crisis was fertile ground for Chávez, who first ...
Socialist International – In a statement titled The Last Vestiges of Democracy in Venezuela Fall, the group stated that the TSJ's declaration was "a critical blow to the last vestiges of democracy" in Venezuela, further stating that "Socialist International, in the face of the gravity of what is happening in Venezuela, condemns and denounces ...
The opposition political parties became divided in their opinions on how to overcome the political crisis: Democratic Action insisted in the Assembly on appointing a medical board to prove the President's mental incapacity; Francisco Arias Cárdenas and his deputies called for a consultative referendum, the Movement for Socialism (MAS) asked ...
The crisis has been variously blamed on low oil prices in early 2015; [33] on an "economic war" on Venezuelan socialism [34] waged by international sanctions, and the country's business elite; [35] and on "years of economic mismanagement, and corruption", [35] including a lack of maintenance and investment in oil production.
He heads Venezuela's ruling Socialist Party. His policy prescriptions are in line with socialism: His government has instituted price controls , seized assets from private companies, and ...
The U.S.-recognized winner of Venezuela’s presidential election on July 28, ... But Maduro endured and the economic and humanitarian crisis in Venezuela worsened. As a result, the U.S. has seen ...