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Bolivarian Revolution

21st-century political process in Venezuela

  • 11 min read
  • 5 chapters

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Through South America, Nationalism and Privatization

Chávez and MVR won the 1998 Venezuelan presidential election and initiated the constituent process that resulted in the Venezuelan Constitution of 1999. On his 57th birthday in 2011, while announcing that he was being treated for cancer, Chávez announced that he had changed the slogan of the Bolivarian Revolution from "Motherland, socialism, or death" to "Motherland and socialism. We will live, and we will come out victorious". Following the death of Chávez in 2013, the movement declined, and the political and economic situation in Venezuela has rapidly deteriorated, resulting in the Venezuelan crisis.

As of 2018, the vast majority of mayoral and gubernatorial offices are held by PSUV candidates, while the opposition Democratic Unity Roundtable (MUD) coalition won two thirds of parliamentary seats in 2015. Political hostility between the PSUV and MUD has led to several incidents where both pro-government and opposition demonstrations have turned violent, with an estimated 150 dead as a result in 2017. Several opposition figures have been subject to politically motivated detentions.

Background

Simón Bolívar has left a long-lasting imprint on the history of Venezuela in particular and South America in general. As a military cadet, Hugo Chávez was "a celebrant of the Bolivarian passion story". Chávez relied upon the ideas of Bolívar and on Bolívar as a popular symbol later in his military career as he put together his MBR-200 movement became a vehicle for his February 1992 Venezuelan coup attempt. The 1980s oil glut caused an economic crisis to take hold in Venezuela, and the country had accrued significant levels of debt. Nevertheless, the administration of left-leaning President Jaime Lusinchi was able to restructure the country's debt repayments and offset an economic crisis but allow for the continuation of the government's policies of social spending and state-sponsored subsidies. Lusinchi's political party, the Democratic Action, was able to remain in power following the 1988 Venezuelan general election, where Carlos Andrés Pérez was elected as President of Venezuela.

Pérez proposed a major shift in policy by implementing economic reforms recommended by the International Monetary Fund (IMF). Measures taken by Pérez included privatizing state companies, tax reform, reducing customs duties, and diminishing the role of the state in the economy. He also took measures to decentralize and modernize the Venezuelan political system by the direct election of state governors, who had previously been appointed by the president. The most controversial part of the economic reform package was the reduction of the gasoline subsidies, which had long maintained domestic gasoline prices far beneath international levels and even the production costs. In response to the government's economic reforms and the resulting increase in the price of gasoline and transportation, a wave of protests and riots known as El Caracazo started on 27 February 1989 in Guarenas, spreading to Caracas and surrounding towns. The weeklong clashes resulted in the deaths of hundreds of people, mostly at the hands of security forces and the military.

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