Venezuela

Venezuela, officially the Bolivarian Republic of Venezuela, is a country on the northern coast of South America, consisting of a continental landmass and various islands and islets in the Caribbean Sea. It comprises an area of 912,050 km2 (352,140 sq mi), with a population estimated at 31.8 million in 2025. The capital and largest urban agglomeration is Caracas. The continental territory is bordered on the north by the Caribbean Sea and the Atlantic Ocean, on the west by Colombia, Brazil on the south, Trinidad and Tobago to the north-east, and on the east by Guyana. Venezuela consists of 23 states, the Capital District, and federal dependencies covering Venezuela's offshore islands. Venezuela is among the most urbanized countries in Latin America; the vast majority of Venezuelans live in the cities of the north and in the capital. The territory of Venezuela was colonized by Spain in 1522, amid resistance from indigenous peoples. In 1811, it became one of the first Spanish-American territories to declare independence from the Spanish and to form part of the first federal Republic of Colombia (Gran Colombia). It separated as a fully sovereign country in 1830. During the 19th century, Venezuela suffered political turmoil and autocracy, remaining dominated by regional military dictators until the mid-20th century. From 1958, the country had a series of democratic governments, as an exception where most of the region was ruled by military dictatorships, and the period was characterized by economic prosperity. Economic shocks in the 1980s and 1990s led to major political crises and widespread social unrest, including the deadly Caracazo riots of 1989, two attempted coups in 1992, and the impeachment of a president for embezzlement of public funds charges in 1993. Confidence in the existing political parties collapsed during the 1998 Venezuelan presidential election, in which Hugo Chávez was elected and which became the catalyst for the Bolivarian Revolution. During the 1999 Constituent Assembly, a new Constitution of Venezuela was written and ratified. The government's populist social welfare policies were bolstered by soaring oil prices, temporarily increasing social spending and reducing economic inequality and poverty in the early years of the Chávez regime. However, poverty began to rapidly increase in the 2010s. The 2013, 2018 and 2024 presidential elections were all widely disputed, with opposition candidates being arrested and/or exiled. This led to widespread protest and international condemnation, which triggered another nationwide crisis that continues to this day. In January 2026, the United States captured President Nicolás Maduro. Vice-President Delcy Rodríguez was formally sworn in as acting President two days later. Venezuela is officially a federal presidential republic but has experienced democratic backsliding into an authoritarian state under the Chávez and Maduro administrations. It ranks poorly on international measurements of freedom of the press, civil liberties, and control of corruption. Venezuela is a developing country, has the world's largest known oil reserves, and has been one of the world's leading exporters of oil. Previously, the country was an underdeveloped exporter of agricultural commodities such as coffee and cocoa, but oil quickly came to dominate exports and government revenues. Venezuela struggles with hyperinflation, shortages of basic goods, unemployment, poverty, disease, high child mortality, malnutrition, environmental issues, severe crime, and widespread corruption. U.S. sanctions and the seizure of Venezuelan assets overseas have cost the country $24–30 billion. These factors have precipitated the Venezuelan refugee crisis in which more than 7.9 million people had fled the country by May 2025. By 2017, Venezuela was declared to be in default regarding debt payments by credit rating agencies. The crisis in Venezuela has contributed to a rapidly deteriorating human rights situation.