Key Facts

GDP (ppp) per CAPITA

$13,500 (2008 est.)

Inflation Rate

30.4% (2008 est.)

Population

26,814,843 (July 2009 est.)

Country Risk Ratings

C

Ease of Doing Business

174/181

Global Competitiveness

3.56/134

Country Map

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gE Network

There are 16 members in the
gE Network for this country.

Venezuela : Introduction

Venezuela was one of three countries that emerged from the collapse of Gran Colombia in 1830 (the others being Ecuador and New Granada, which became Colombia). For most of the first half of the 20th century, Venezuela was ruled by generally benevolent military strongmen, who promoted the oil industry and allowed for some social reforms. Democratically elected governments have held sway since 1959. Hugo CHAVEZ, president since 1999, has promoted a controversial policy of "democratic socialism," which purports to alleviate social ills while at the same time attacking globalization and undermining regional stability. Current concerns include: a weakening of democratic institutions, political polarization, a politicized military, drug-related violence along the Colombian border, increasing internal drug consumption, overdependence on the petroleum industry with its price fluctuations, and irresponsible mining operations that are endangering the rain forest and indigenous peoples.

Venezuela: Bolsa de Valores de Caracas

Venezuela: Central Bank of Venezuela

The Central Bank of Venezuela formulates and carries out monetary policy, participates in designing and carrying out exchange rate policy, regulates currency, credit and interest rates, and administers international reserves. The site offers publications, statistics and policies. Available in English and Spanish.

Venezuela: National Council for Investment Promotion

National Council of Investment Promotion includes a wealth of information regarding business opportunities in a variety of sectors, programs of the Council and the legal environment.  Users can also subscribe to the e-magazine. Site is available in English and Spanish.

Sources:
CIA World Factbook (September 2009)
U.S. Dept. of State Country Background Notes (July 2009)