Editing Venezuela (section)

=== Bolivarian government under Chávez: 1999–2013 ===
{{main|Bolivarian Revolution|History of Venezuela (1999–present)}}
[[File:Chavez Kirch Lula141597.jpg|thumb|Chávez with fellow South American presidents [[Néstor Kirchner]] of Argentina and [[Luiz Inácio Lula da Silva|Lula da Silva]] of Brazil]]
A collapse in confidence in the existing parties led to [[Hugo Chávez]] being elected president in 1998 and the subsequent launch of a "Bolivarian Revolution", beginning with a 1999 [[constituent assembly]] to write a new Constitution. The Revolution refers to a [[left-wing populism]] [[social movement]] and political process led by Chávez, who founded the [[Fifth Republic Movement]] in 1997 and the [[United Socialist Party of Venezuela]] in 2007. The "Bolivarian Revolution" is named after [[Simón Bolívar]]. According to Chávez and other supporters, the "Bolivarian Revolution" sought to build a mass movement to implement [[Bolivarianism]]—[[popular democracy]], economic independence, equitable distribution of revenues, and an end to political corruption. They interpret Bolívar's ideas from a [[populism|populist]] perspective, using [[Socialism|socialist]] rhetoric. This led to formation of the '''Fifth Republic of Venezuela''', commonly known as the '''Bolivarian Republic of Venezuela''', that continues to the present day. Venezuela has been considered the Bolivarian Republic following the adoption of the new [[Constitution of Venezuela|Constitution of 1999]]. Following Chávez's election, Venezuela developed into a [[dominant-party system]], dominated by the [[United Socialist Party of Venezuela]]. In April 2002, Chávez was briefly ousted from power in the [[2002 Venezuelan coup d'état attempt]] following popular demonstrations by his opponents,<ref>The coup installed chamber of commerce leader [[Pedro Carmona]].{{cite news |url=http://news.bbc.co.uk/2/hi/americas/1927678.stm |title=Profile: Pedro Carmona |date=27 May 2002 |publisher=BBC News |access-date=6 February 2009 |archive-date=23 September 2013 |archive-url=https://archive.today/20130923162952/http://news.bbc.co.uk/2/hi/americas/1927678.stm |url-status=live}}</ref> but Chavez returned after two days as a result of demonstrations by poor Chávez supporters and actions by the military.{{sfn|Cannon|2004|p=295}}{{sfn|López Maya|2005|p=16}} Chávez remained in power after an all-out national strike that lasted [[Venezuelan general strike of 2002–2003|from December 2002 to February 2003]], including a strike/lockout in the state oil company [[PDVSA]].<ref>{{cite web|url=https://www.bnamericas.com/en/news/oilandgas/Minister:_2002-2003_strike_cost_PDVSA_US*12,8bn|title=Minister: 2002–2003 strike cost PDVSA US$12.8bn – BNamericas|date=27 July 2005|access-date=3 October 2017|archive-date=4 October 2017|archive-url=https://web.archive.org/web/20171004084930/https://www.bnamericas.com/en/news/oilandgas/Minister:_2002-2003_strike_cost_PDVSA_US*12,8bn|url-status=live}}</ref> [[Capital flight]] before and during the strike led to the reimposition of [[Foreign exchange controls|currency control]]s. In the subsequent decade, the government was forced into currency devaluations.<ref>[http://www.aljazeera.com/news/americas/2013/02/2013296490217208.html "Venezuela devalues currency against US dollar"] {{webarchive |url=https://web.archive.org/web/20171014041330/http://www.aljazeera.com/news/americas/2013/02/2013296490217208.html |date=14 October 2017}}. Aljazeera.com (9 February 2013). Retrieved on 20 April 2013.</ref><ref>[http://www.ft.com/intl/cms/s/0/399ce5c6-751f-11e2-a9f3-00144feabdc0.html "The bill for years of mismanagement is coming due"] {{webarchive |url=https://web.archive.org/web/20200411190302/https://www.ft.com/content/399ce5c6-751f-11e2-a9f3-00144feabdc0 |date=11 April 2020}}. Ft.com (12 February 2013). Retrieved on 20 April 2013.</ref><ref name="Economist">[https://www.economist.com/news/americas/21572202-return-hugo-ch%C3%A1vez-his-country-suggests-one-way-or-another-end-venezuelas "Venezuela The homecoming"] {{webarchive |url=https://web.archive.org/web/20170701181513/http://www.economist.com/news/americas/21572202-return-hugo-ch%C3%A1vez-his-country-suggests-one-way-or-another-end-venezuelas |date=1 July 2017}}. Economist.com (23 February 2013). Retrieved on 20 April 2013.</ref><ref name="Businessweek">Farzad, Roben. (15 February 2013) [https://web.archive.org/web/20130218115931/http://www.businessweek.com/articles/2013-02-15/venezuelas-double-edged-bolivar-devaluation "Venezuela's Double-Edged Devaluation"]. Businessweek.com. Retrieved on 20 April 2013.</ref> These devaluations did not improve the situation{{Vague|date={{CURRENTMONTHNAME}} {{CURRENTYEAR}}}} of the people who rely on imported products or locally produced products that depend on imported inputs, while dollar-denominated oil sales account for the majority of exports.<ref>Mander, Benedict. (10 February 2013) [http://www.ft.com/intl/cms/s/0/12e9f32e-739e-11e2-9e92-00144feabdc0.html "Venezuelan devaluation sparks panic"] {{webarchive |url=https://web.archive.org/web/20200411190248/https://www.ft.com/content/12e9f32e-739e-11e2-9e92-00144feabdc0 |date=11 April 2020}}. Ft.com. Retrieved on 20 April 2013.</ref> The profits of the oil industry have been lost to "social engineering" and corruption, instead of investments needed to maintain oil production.<ref>{{cite news |url=https://www.bloomberg.com/news/articles/2014-10-07/how-venezuela-came-away-with-no-dollars-from-sales-andes-credit |archive-url=https://web.archive.org/web/20141009111954/http://www.bloomberg.com/news/2014-10-07/how-venezuela-came-away-with-no-dollars-from-sales-andes-credit.html |archive-date=9 October 2014 |title=How Venezuela Got No Dollars From $65 Billion Bond Sales |last1=Boyd |first1=Sebastian |date=7 October 2014 |work=[[Bloomberg.com]] |access-date=8 October 2014 |url-status=live}}</ref>

Chávez survived further political tests, including an [[2004 Venezuelan recall referendum|August 2004 recall referendum]]. He was elected for another term [[2006 Venezuelan presidential election|in December 2006]] and for a third term in October 2012. However, he was never sworn in due to medical complications; he died in March 2013.<ref>Neuman, William (5 March 2013) [https://www.nytimes.com/2013/03/06/world/americas/as-chavez-worsens-venezuela-expels-two-us-diplomats.html?hp&_r=0 "Chávez Dies, Leaving Sharp Divisions in Venezuela"] {{Webarchive|url=https://web.archive.org/web/20231129031900/https://www.nytimes.com/2013/03/06/world/americas/hugo-chavez-of-venezuela-dies.html |date=29 November 2023}}. New York Times.</ref>