Source: TOI
Context:
US President Donald Trump confirmed US carried out large scale military strikes against Venzeula and captured Venezuelan President Nicolas Maduro and his wife.
Venezuela
Basics
- Capital: Caracas
- Region: Northern South America
- Currency: Bolívar (with widespread dollar use)
- Political system: Presidential republic
Neighbouring Countries of Venezuela
- Venezuela has a long northern coastline along the Caribbean Sea, which places it close to Caribbean island nations, though these are not land neighbours.
- The country is strategically positioned between the Andes region, the Amazon Basin, and the Caribbean.
- Colombia – to the west
- Brazil – to the south
- Guyana – to the east
Leadership & Politics
- President: Nicolás Maduro
- Long-running political crisis marked by disputed elections, opposition crackdowns, and international pressure.
- Periodic negotiations with opposition and external actors over sanctions relief and electoral guarantees.
Economy
- Oil-dominated: Holds one of the world’s largest proven crude reserves (Orinoco Belt).
- Challenges: Years of mismanagement, sanctions, and underinvestment led to hyperinflation (since eased), output collapse, and infrastructure decay.
- Recent trend: Modest stabilization via partial dollarization, selective
