What type of economy does Venezuela have today?

Venezuela has a largely command economy in which the central government directs the economy regarding the production and distribution of goods. Venezuela is a member of the Common Market of the South (Mercosur).

What is causing shortages in Venezuela?

With the short supply of foreign currencies and Venezuela’s reliance on imports, debt is created. Without settling its outstanding debt, Venezuela could not import the materials necessary for domestic production. Without such imports, more shortages were created since there was an increasing lack of production as well.

How many terms can a Venezuelan president serve?

Presidential elections The President of Venezuela is elected for a six-year term by direct election plurality voting, and is eligible for unlimited re-election.

Who currently leads Venezuela?

A special presidential election was held in 2013, which Maduro won with 50.62\% of the vote as the United Socialist Party of Venezuela candidate. He has ruled Venezuela by decree since 2015 through powers granted to him by the ruling party legislature.

How long has Chavez been in power?

listen); 28 July 1954 – 5 March 2013) was a Venezuelan politician who was president of Venezuela from 1999 until his death in 2013, except for a brief period in April 2002.

How many terms did Hugo Chavez serve?

April 14, 2002 – March 5, 2013
Hugo Chávez/Presidential terms

How did Carlos Chávez die?

After the first lung infection (pneumonia) in the last stages of his life, Chávez was intubated nearing the end of December. His breathing worsened until his death was announced at 16:25 VET (20:55 UTC) on 5 March 2013, almost two years after he was first diagnosed.

Why was Chavez not sworn in for a fourth term?

Chávez was first elected as president in 1998 and was re-elected in 2000, 2006 and finally in 2012. However, Chávez was unable to be sworn in for a fourth term after the 2012 election due to his illness. Chávez walking with a cane accompanied by Rafael Correa in Caracas in July 2011, shortly after his first cancer surgery.

What happened to the economy of Venezuela after Chavez?

By the end of Chávez’s presidency in the early 2010s, economic actions performed by his government during the preceding decade, such as deficit spending and price controls, proved to be unsustainable, with Venezuela’s economy faltering. At the same time, poverty, inflation and shortages increased.

What kind of cancer does Chávez have?

Chávez was diagnosed with cancer following the discovery of a mass in his pelvic region in June 2011. He traveled to Havana, Cuba where he underwent a surgical operation to remove a malignant cancerous tissue mass ‘about the size of a baseball’ from his waist. He underwent a second surgical operation in Venezuela one month later.