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The material standard of living for all classes in Venezuela improved.
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leading to a foreign debt crisis and forced devaluation of the Bolivar.
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The percentage of people living below the poverty line jumped from 36% to 66%, while people in extreme poverty tripled, from 11% to 36%, and the class division intensified.
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Venezuela was faced with an external debt ($34 billion) that under these conditions could not be paid.
Riots broke out across the country and the government responded by imposing martial law. -
La Causa Radical (LCR) and the Movimiento al Socialismo (MAS).
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He was the leader of a coup attempt on Pérez. Before being imprisoned Chávez was granted one minute on national television and that gave Chávez national recognition and caused him to become for many a heroic symbol of resistance to the disliked regime.
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For illegally using $17 million to finance the campaign of Violetta Chamorro in Nicaragua.
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About 1.3 million workers walked in it.
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this adjustment opened the state oil industry to private investment.
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due to their financial crisis, Oil prices tumbled thereby worsening Venezuela's economy in an election year.
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With 56.4% of the popular vote.
