Venezuela has undergone a variety of regime changes and revolutions that have impacted the present crisis.

Venezuela’s Political History

Since the early 20th century, Venezuela has been a major oil exporter, with money from oil exports largely funding the government’s policies. 

Venezuela’s Historical Dependence on Oil

Both Venezuela’s political and economic history help to explain the current crisis and lack of a revolution.

Wesleyan University

Venezuela’s current crisis is a direct result of both the political developments of Chavismo and the country’s historical dependence on oil. Chávez—who rose to power through the Bolivarian Revolution—deteriorated Venezuelan democracy before his predecessor—current President Maduro—transformed the country into a full-blown dictatorship. Additionally, Venezuela’s historical dependence on oil has caught up with it, resulting in several years of a worsening recession amid the COVID-19 pandemic. Despite the desperate situation, however, Venezuelans have not joined forces in a united revolution.

An Overview of the Venezuelan Crisis

The Historical Context of the Venezuelan Crisis

The current crisis in Venezuela affects all levels of Venezuelan society. Political problems began under Hugo Chávez and have been exacerbated by Nicolás Maduro, who has also overseen a large-scale economic crisis over the past several years.

The Crisis in Venezuela, from 1999 to Present

The current crisis afflicting Venezuela involves a swath of economic problems, a refugee crisis, and the COVID-19 pandemic. Despite the intersecting set of issues, there has not yet been a revolution aimed at overthrowing Chavismo.

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