Venezuela: Late-20th-Century Venezuela

Late-20th-Century Venezuela

Later in 1945 a military junta committed to democracy and social reform gained control of the government, which was then headed by Rómulo Betancourt of the Democratic Action party. A new constitution promulgated in 1947 provided, for the first time in Venezuelan history, for the election of a president by direct popular vote. The first president elected under the new constitution was the eminent novelist Rómulo Gallegos. His administration, however, was short-lived.

A military coup in Nov., 1948, overthrew the Gallegos government, and a repressive military dictatorship was established. By 1952, Col. Marcos Pérez Jiménez had become dictator, and he made wide use of police state techniques. A popular revolt, supported by liberal units of the armed forces, broke out early in 1958; Pérez Jiménez fled. Elections held that year restored democratic rule to Venezuela. Rómulo Betancourt adopted a moderate program of gradual economic reform and maintained friendly relations with the United States despite the association of U.S. interests with Pérez Jiménez. A new constitution (1961) was adopted.

The country, long out of debt because of the oil revenues, reached a peak of prosperity, but the new administration was nevertheless gravely challenged. Left-wing groups, particularly the Communists, bitterly opposed the administration, and their activities, combined with the restiveness of the poorer classes and the dissidence of leftist elements in the military, led to numerous uprisings. Extreme right-wing elements also plotted against the Betancourt regime. Betancourt was succeeded in 1964 by Raúl Leoni. In 1968 the Social Christian party came to power when Rafael Caldera Rodríguez won a close presidential election. The boundary dispute with Guyana flared up again in the 1960s, with Venezuela laying claim to some 60% of Guyana's territory.

The 1973 presidential election was won by Carlos Andrés Pérez Rodríguez of the Democratic Action party. That same year Venezuela joined the Andean Group (later the Andean Community), an economic association of Latin American nations. In 1976, Venezuela nationalized its foreign-owned oil and iron companies. Luis Herrera Campíns replaced Pérez in 1978. A decrease in world oil prices during the early 1980s shocked the Venezuelan economy and massively increased Venezuela's foreign debt.

Democratic Action candidate Jaime Lusinchi defeated Campíns in 1983. He renegotiated the national debt and introduced austerity budgets and cuts in social services, but inflation and unemployment continued to plague the country. Pérez was returned to office in 1989 amid demonstrations and riots sparked by deteriorating social conditions. In 1992 Pérez survived two attempted military coups, but the following year he was removed from office on corruption charges; he was later convicted and sentenced to jail for misuse of a secret security fund. In 1994 Rafael Caldera Rodríguez again became president, this time under the banner of the National Convergence party. He unveiled austerity measures in 1996 and privatized some state-run companies.

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