January 31, 2021
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my Venezuela timeline
⟶ Updated 13 Nov 2019 ⟶
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Venezeula becomes an independent country from Gran Columbia, with Caracas as its capital city.
Ports blocked by German, British and Italian warships, after they had not paid back loans.
Leftist Romulo Betancourt is president. He oversees the 1963 elections, the first democratic transfer of power.
Raul Leoni becomes president during a period when elections are limited to between two major parties.
Oil prices rapidly rise, benefiting Venezuela, due to a war between arab states and israel.
A fall in world oil prices leads to government spending cuts. The President signs a business, trade unions and government pact to handle it.
President Carlos Andres Perez is elected president. Venezuela seeks loans from the International Monetary Fund.
venezuela becomes one of the worlds largest oil exports.
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