The New York Times International Edition
The New York Times International Edition is an English-language newspaper printed at 38 sites throughout the world and sold in more than 160 countries and territories. Founded under the title Paris Herald in 1887 in Paris as the European edition of the New York Herald, it changed owners and was renamed several times: it became the Paris Herald Tribune, global edition of the New York Herald Tribune in 1924 the International Herald Tribune in 1967, with The Washington Post and The New York Times as joint parent newspapers. In 2002, The New York Times Company took control of the International Herald Tribune, subtitled since The Global Edition of the New York Times. On October 15, 2013, the paper was renamed The International New York Times, in October 2016, it was integrated with its parent and renamed The New York Times International Edition. Autumn that year saw the closing of editing and preproduction operations in the Paris newsroom, where the paper, under its various names, had been headquartered since 1887.
The Paris Herald was founded on 4 October 1887, as the European edition of the New York Herald by the parent paper’s owner, James Gordon Bennett, Jr. The company was based in Neuilly-sur-Seine, a suburb of Paris, France. After the death of Bennett in 1918, Frank Andrew Munsey bought the New York Herald and the Paris Herald. Munsey sold the Herald newspapers in 1924 to the New York Tribune, the Paris Herald became the Paris Herald Tribune, while the New York paper became New York Herald Tribune; the newspaper became a mainstay of American expatriate culture in Europe. In Ernest Hemingway’s 1926 novel, The Sun Also Rises, the first thing the novel’s protagonist Jake Barnes does on returning from Spain to France is to buy the New York Herald from a kiosk in Bayonne and read it at a cafe. In Jean-Luc Godard’s 1960 film Breathless, the female lead character Patricia is an American student journalist who sells the New York Herald Tribune on the streets of Paris. Pages from the day’s paper can be seen tacked up through the office windows, a tradition, to continue with the International Herald Tribune.
In 1959 John Hay Whitney, a businessman and United States Ambassador to the United Kingdom, bought the New York Herald Tribune and its European edition. In 1966 the New York Herald Tribune was merged into the short-lived New York World Journal Tribune and ceased publication, but the Whitney family kept the Paris paper going through partnerships. In December 1966 The Washington Post became a joint owner; the New York Times became a joint owner of the Paris Herald Tribune in May 1967, whereupon the newspaper became known as the International Herald Tribune. In 1974, the IHT began transmitting facsimile pages of the paper between nations and opened a printing site near London. In 1977 the paper opened a second site in Zürich; the IHT began transmitting electronic images of newspaper pages from Paris to Hong Kong via satellite in 1980, making the paper available on opposite sides of the planet. This was the first such intercontinental transmission of an English-language daily newspaper and followed the pioneering efforts of the Chinese-language newspaper Sing Tao Daily.
In 1991, The Washington Post and The New York Times became sole and equal shareholders of the IHT. In February 2005 it opened its Asia newsroom in Hong Kong. In April 2001, the Japanese newspaper Asahi Shimbun tied up with the IHT and published an English-language newspaper, the International Herald Tribune/Asahi Shimbun. After The Washington Post sold their stake in the IHT, it continued being published under the name International Herald Tribune/Asahi Shimbun, but it was discontinued on February 2011. On 30 December 2002 The New York Times Company took control of the paper by buying the 50% stake owned by The Washington Post Company; the takeover ended a 35-year partnership between the two US domestic competitors. The Post was forced to sell when the Times threatened to pull out and start a competing paper; as a result, the Post entered into an agreement to publish selected Post articles in The Wall Street Journal’s European edition. After the takeover the IHT was subtitled The Global Edition of the New York Times instead of Published by The New York Times and The Washington Post.
In 2008, the NYT Company announced the merger of the New York Times and IHT websites. In March 2009 the IHT website became the global version of NYTimes.com. In 2013, the New York Times Company announced that the newspaper itself would be renamed The International New York Times to reflect the company’s focus on its core New York Times newspaper and to build its international presence. On 14 October 2013 the International Herald Tribune appeared on newsstands for the last time, it came with a supplemental section, titled Turning the Page, a retrospective on the Herald Tribune’s past articles and place in newspaper history. On October 15, 2013, the International New York Times debuted with a ‘Premier Edition’ flash above the masthead, it came with a supplement titled Turning the Page II, which discussed and predicted developments in many global areas including energy, finance and media. In October 2016, the newspaper was integrated with its parent and renamed The New York Times International Edition.
While the International Edition shares many columnists with The New York Times, it has its own voice in the field of culture. Well-known commentators include Alice Rawsthorn on design and Souren Melikian on art. Besides the daily edition, a weekly 16-page edition is published as The New York Times International Weekly featuring the best of New York Times articles for a week. Designed to complement and extend local reporting, it offers readers globally resonant coverage of ideas and trends, business
Alí Rodríguez Araque
Alí Rodríguez Araque was a Venezuelan politician and diplomat. He was the leader of the political party Patria Para Todos and occupied various positions in the government of President Hugo Chávez, such as oil advisor, General Secretary of OPEC, President of Petróleos de Venezuela, Minister of External Relations and Ambassador to Cuba, he was appointed as Minister of Finance in June 2008. His last occupation was Ambassador of Venezuela in Cuba since 2014 until his death in 2018. Born in Ejido, Mérida, he received his legal certification from Universidad Central de Venezuela in Caracas in 1961, he studied economics, specialising in crude oil. During the 1960s and early 1970s, he was active in the Marxist guerrilla movement operating in Venezuela, he was known as "Commander Fausto" acting as an explosives expert. He was one of the last guerrilla fighters to put down arms, after the so-called "appeasement" policy signaled the end of the armed insurgency, he was pardoned and became involved in parliamentary politics, was elected to the National Congress.
He was minister of energy of Venezuela from 1999, when Chávez took office, until 2000. In 2000 he was elected secretary-general of OPEC and served from January 2001 to July 2002, he became president of Venezuela's state-owned oil company Petróleos de Venezuela, where he masterminded the firing of more than 20,000 workers in response to their part in the company's leading role in the Venezuelan general strike of 2002-2003. He remained in that position until November 2004 when Chávez appointed him foreign minister in a cabinet reshuffle. On 1 September 2006, Rodríguez was appointed as Ambassador of Venezuela to Cuba, he served some time as Vice President of the United Socialist Party of Venezuela for the Andean region in Venezuela before being appointed as Minister of Finance by Chávez on 15 June 2008. He died in Havana on 19 November 2018 at the age of 81. List of Venezuelans List of Ministers of Foreign Affairs of Venezuela World Energy Magazine – The Global Energy Industry: An Opportunity for Cooperation and Investment World Energy Magazine – OPEC: New Realities and New Challenges
Victor Vargas is a Venezuelan banker, businessman and "Guizero", best known for being the owner and president of the 14th largest private bank in Venezuela, Banco Occidental de Descuento. Is known for his questionable partnership with the Venezuelan government. Although the fact of his collaboration with the Venezuelan regime and being accused of scam, Vargas runs a number of philanthropies and charities targeted to help children, the environment, budding entrepreneurs in Latin America, he is known as the manager and average player of the Lechuza Caracas polo team. Victor Vargas was born into a middle class family in the municipality of Chacao, city of Caracas, Venezuela, his mother was the first woman to serve on the Supreme Court of Venezuela. His father was a doctor, he earned his law degree at Andrés Bello Catholic University. Vargas started his career as a lawyer. In the 1980s, he acquired 2% of CapitalBanc Corp. a bank based in New York City. The bank was closed down in the early 1990s, he was accused of fraud.
He is quoted describing the venture as "the worst business" of his life. He shared his experience in October 2007 when he moderated a panel on corporate governance at a Miami conference of the Florida International Bankers Association and the Latin American Banks Federation. In 1992 he sold a small bank he owned, he used those funds a year in 1993, to buy Banco Occidental de Descuento, based in the oil-rich state of Zulia. Many of his clients are oil investors. Another form of revenue comes from purchasing sovereign debt bonds and re-selling them for profit to investors; as of 2015, it was the 14th largest private bank in Venezuela. He serves as its Vice-President. In 2014, Vargas and BOD partnered with American Express to provide a new credit product for microentrepreneurs. Microentrepreneurs provide for 15 percent of the Venezuelan economy. Vargas and BOD’s goal was to expand the American Express card to 300,000 cardholders with access to 46,000 businesses by 2013; the card would offer a 4-year rotating term financing option.
In 2010, overall profitability on bank assets in Venezuela fell to 9.7 percent from 20.5 percent in 2009. Venezuelan bankers were concerned that the Venezuelan Central Bank had not changed commission tariffs in over five years. Vargas served as the leader of the National Bank Board and led discussions with the Superintendencia de Bancos. Vargas proposed that the Central Bank create new requirements for giving loans to strategic sectors as opposed to the then-current law requiring compulsory loan portfolios. Vargas and his bank were not successful, he helped the Chávez administration raise funds to finance Venezuela's budget. According to the United States Department of State, Vargas was "said to have made a profit off those negotiations" and was described as "a banker whose star has risen during the Chávez presidency". Vargas is alleged to have made background deals with the Chávez government, however those close to Vargas denied that he had received special treatment from Chávez. In 2008, Vargas' bank, Banco Occidental de Descuento, agreed to buy Banco de Venezuela from its then-owner, Spanish bank Banco Santander.
Vargas and his bank officials met with the appropriate finance officials in the Venezuelan government, the officials approved the purchase. Vargas's BOD put a $700 million down payment toward the purchase. Soon after, President Hugo Chavez went on national TV and announced he was pushing BOD aside and buying the bank himself, on behalf of the Venezuelan government. BOD lost the $700 million deposit. Banco Santander refused to refund it. A Spanish court ordered the refund, but Spain's equivalent of the Supreme Court overturned that order. Through it all, a 2008 Wall Street Journal article characterized Vargas and Venezuela's other wealthy elites as having "durability...no matter, in power." Vargas was assisted by the Venezuelan government for abiding by their policies during the Venezuelan banking crisis of 2009–10, when more than a half-dozen competing private banking institutions were closed. Vargas's survival strategy, he says, is to remain "agnostic about politics": "A businessman has to deal with his government, no matter how far to the right or left it is".
In May 2013, it was alleged that Vargas purchased Cadena Capriles, with its criticism of the Venezuelan government declining afterward. Vargas owns an umbrella company that owns Vargas's businesses. BOD Financial owns companies in three major market sectors: banking, capital markets, insurance. Vargas runs a number of philanthropies and charities aimed at entrepreneurship development and community development, which includes music education, environmental protection. Vargas served as the technical director of the Venezuelan Olympic Committee for the 2012 Olympic Games in London. On July 20, 2012, Vargas led a delegation from Venezuela to meet with the Olympics’ Organizing Committee and to inspect the Olympic Village in London. On June 23, 2015, Vargas was named "Latin America Entrepreneur of the Year" by business magazine The Executive. Concepción Dancausa, one of Spain's delegates to the European Union’s Committee of the Regions gave the award to Vargas at a ceremony in Marid. According to Latin Business Daily, Vargas received the award "for his leadership role in driving economic growth, job creation, expansion of wealth in Latin America."
Vargas co-owns and plays left bench for a polo club and team. On September 1, 2015, Vargas told The Telegraph that he was planning to start a league in the Dominican Republic. Vargas had moved the headquarters of his club from England to Spain. Wh
Globovisión is a 24-hour television news network in Venezuela and Latin America. It broadcasts over-the-air in Caracas, Aragua and Zulia on UHF channel 33. Globovisión is worldwide from their website; some of Globovisión's programs can be seen in the United States on cable network Canal Sur and TV Venezuela, a channel offered in DirecTV's Para Todos package. In Latin America, Globovision can be seen in Argentina, Chile, Peru, Puerto Rico and other territories as Aruba and Tobago, Barbados and Curaçao in Directv's package. On December 1, 1994, Luis Teófilo Núñez Arismendi, Guillermo Zuloaga Núñez, Nelson Mezerhane Gosen, Alberto Federico Ravell Arreaza, inaugurated Globovisión, channel 33, the first 24-hour news network in Venezuela to broadcast over-the-air. Globovisión is broadcast over the air in Caracas, Aragua and Zulia. Globovisión's programming is carried by 95 percent of the nation's cable systems. In February 17, 2010, general director of the channel, was dismissed from his post by board of directors of Globovision due to "differences with its partners".
Ravell said he had to " sacrifice himself leaving office for the channel wasn't sold and falls into the hands of Government of Hugo Chavez". In 2009, pro-government leader Lina Ron led an armed attack on Globovisión, where she and attackers threw tear gas into the headquarters of the news organization that left injured multiple individuals inside and threatened its security with firearms. In 2013, Globovisión was sold to an economist and businessman with connections to the Venezuelan government, Juan Domingo Cordero, who runs the insurance company La Vitalicia. “Our mission, criticized by many, but applauded by our great audience, has helped us to prove that, in spite of adversities and threats, we are still standing, with a professional and technical team of invaluable working mystic, that knows how to fulfill their duty, that looks for the news without caring about conditions and some times putting their lives at risk.” Overseas, Globovisión has affiliations with CNN en Español, RCN, Canal N, Panamericana Televisión, Canal Sur, Canal 13, Todo Noticias, Monte Carlo Televisión, Canal 4, Canal 8, Ecuavisa.
Most of the shows seen on Globovisión are national productions. They include: Aló Ciudadano – A call-in show hosted by Leopoldo Castillo; this program was simulcasted on the Radio Caracas Radio after Hugo Chavez government expropriated the radio network Circuito Nacional Belfort. In the network until 2013 was co-hosted by Sheina Chang, Maria Alejandra Trujillo, Pedro Pablo Peñaloza, Carlos Acosta and Andreina Fuenmayor; the interim host were María Elena Lavaud. Aló Venezuela – A Sunday talk show hosted by Del Valle Canelon and Ismael Garcia. Tocando Fondo – A talk show, hosted by Ana Karina Villalba seen on Sundays at 11 am. Vladimir a la Una – A daily talk show, hosted by Vladimir Villegas Polhiak at 1 pm. Entre Noticias – A weekend news show hosted by Marianna Gomez Plomovisión – A documentary series hosted by Johnny Ficarella; this program's name originated from an epithet given to the channel by President Hugo Chávez. Shirley – A talk show hosted by Jewish journalist Shirley Varnagy Primera Página – A morning news show hosted by Aymara Lorenzo, José Vicente Antonetti, Carolina Alcalde, Jessica Morales, Andreína Gandica.
It comes on at 6 am on weekdays. José Domingo Blanco and Nathaly Salas Guaithero once hosted this show, it was hosted by Julio César Camacho. Brujula Internacional – An evening international news show hosted by ambassador Julio César Pineda. En la Mañana – Another morning news show hosted by Williams Echeverría. Biografías – A documentary series on famous Venezuelan personalities hosted by Maky Arenas. Hablan las Paredes – A night talk show, hosted by Guillermo Tell Troconis. Mujeres en Todo – A live variety show with Alba Cecilia Mujica, Maria Isabel Parraga and Veronica Rasquin. Titulares de Mañana – A show which reveals the front pages of tomorrow's newspapers in Venezuela; this show was hosted by Orlando Urdaneta. Orlando Urdaneta changed the program's name to La Hora de Orlando in 2003. After he left Globovisión in 2004, the name was reverted to "Titulares de Mañana" with Pedro Luis Flores and Jesus "Chuo" Torrealba as its host. Noticias Globovisión – The network's main newscast, anchored by Gladys Rodríguez, Roman Lozinski, Juan Eleazar Figallo and Diana Carolina Ruiz.
It has several daily broadcasts anchored by Jorge Luis Perez Valery. Grado 33 – A news documentary series hosted by Norberto Mazza and Roberto Giusti; this program was critical of the Chávez government. Soluciones – morning talk show hosted by Shirley Varnagy, Nathalie Viteznik. CNN World Report – Saturday morning ecological program hosted by Fernando Jauregui El Radar de los Barrios – morning talk show hosted by Chuo Torrealba. La cocinita de Sindy – Saturday cooking talk show hosted by Sindy Lazo. 35MM – One of the few non-political shows on Globovisión, it contains the latest news on upcoming Hollywood movies and is hosted by Víctor X. Faranduleando, which contains celebrity news. Paparazzi del Deporte, which contains sport celebrity news. Usted lo vio – Week news Summary show host by Juan Eleazar Figallo. Alta Densidad – A technology news show hosted by Carlos José Monzón. Sin Flash TV – A show, hosted by beauty queen Cynthia Lander, about the most popular society parties and events in Venezuela and world.
Saber Vivir- A health micro by Martha Palma Troconis. Alta Postura- A fashion program hosted by Giancarlo Berardinelli Con todo y Penzini – A variety news show ho
Banco Santander, S. A. doing business as Santander Group, is a Spanish multinational commercial bank and financial services company founded and based in Santander, Spain. In addition to hubs in Madrid and Barcelona, Santander maintains a presence in all global financial centres as the largest Spanish banking institution in the world. Although known for its European banking operations, it has extended operations across North and South America, more in continental Asia. Many subsidiaries, such as Abbey National, have been rebranded under the Santander name; the company is a component of the Euro Stoxx 50 stock market index. In May 2016, Santander was ranked as 37th in the Forbes Global 2000 list of the world's biggest public companies. Santander is Spain’s largest bank; as of 2017, Santander is the 5th largest bank in Europe with US$1.4 trillion in total assets-under-management. Traded on the Euro Stoxx 50 stock market index, the bank has a total market capitalization of $69.9 billion. Banco Santander was founded in 1857.
In 1999 it merged with Banco Central Hispano, which had in turn been formed through the 1991 merger of Banco Central and Banco Hispanoamericano. The combined bank, known as Banco Santander Central Hispano, or BSCH, was designed to be a "merger of equals", in which the top executives of the two pre-existing firms would share control of the merged entity. Soon after the merger former BCH executives accused Banco Santander chairman Emilio Botín of trying to push his own agenda and threatened to take legal action; this post-merger disagreement was resolved when BCH executives Jose Amusátegui and Angel Corcóstegui agreed to accept severance payments and pass control to Botín, at an expense to shareholders of €164M. The large termination payouts generated negative press, Botín was brought to trial on criminal charges of "misappropriation of funds" and "irresponsible management". However, in April 2005 the court cleared him of all charges, the €164M retirement payments made to the two former executives having been found to be legal, "made as compensation for the services provided to the bank".
That year, the anti-corruption division of the Spanish public prosecutor's office cleared Botín of all charges in a separate case, in which he was accused of insider trading. In 2007 the bank changed the official name back to Banco Santander S. A. In 1996 Banco Santander acquired Grupo Financiero InverMexico. In 2000, Banco Santander Central Hispano acquired Grupo Financiero Serfin of Mexico. On 26 July 2004 Banco Santander Central Hispano announced the acquisition of Abbey National plc. Following shareholders' approval at the EGM of Abbey and Santander, the acquisition was formally approved by the courts and Abbey became part of the Santander Group on 12 November 2004. In June 2006, Banco Santander Central Hispano purchased 20% of Sovereign Bank and acquired the option to buy the bank for one year beginning in the middle of 2008. In May 2007 Banco Santander Central Hispano announced that in conjunction with The Royal Bank of Scotland and Fortis it would make an offer for ABN AMRO. BSCH's share of the offer added up to 28% and the offer would have to be made up of a capital increase through a new share issue.
In October 2007 the consortium outbid Barclays and acquired ABN AMRO. As part of the deal, Grupo Santander acquired ABN AMRO's subsidiary in Brazil, Banco Real, its subsidiary in Italy, Banca Antonveneta. On 13 August 2007, Banco Santander Central Hispano changed its legal name to Banco Santander. In November that year, it sold Banca Antonveneta to Banca Monte dei Paschi di Siena, excluding a subsidiary Interbanca. In March 2008, Banco Santander sold Interbanca to GE Commercial Finance, receiving in return GE Money businesses in Germany and Austria, GE's card and auto-financing businesses in the UK, which it integrated with Santander Consumer Finance. In July 2008 the group announced it intended to purchase the UK bank Alliance & Leicester, which held £24bn in deposits and had 254 branches. Santander purchased the savings business of Bradford & Bingley in September 2008, which held deposits of £22bn, 2.6m customers, 197 branches and 140 agencies. The acquisition of Alliance & Leicester completed in October 2008 when the B&B's shares were delisted from the London Stock Exchange.
By the end of 2010 the two banks merged with Abbey National under the Santander UK brand. In October 2008, the Group announced to acquire 75.65% of Sovereign Bancorp it did not own for US$1.9 billion. Because of the 2008 financial crisis at the time, Sovereign's price-per-share had fallen greatly: Rather than the $40 per share it would have cost in 2006, Banco Santander ended up paying less than $3 per share; the acquisition of Sovereign gave Santander its first retail bank in the mainland United States. Santander renamed the bank to enhance its global brand recognition in October 2013. On 14 December 2008, it was revealed that the collapse of Bernard Madoff's Ponzi scheme might mean the loss of €2.33 billion at Banco Santander. On 10 November 2009, HSBC Finance Corporation announced its auto finance entities had reached an agreement with Santander Consumer USA Inc. to sell HSBC US auto loan servicing operations, US$1 billion in auto loan receivables for US$904 million in cash, enter into a loan servicing agreement for the remainder of its liquidated US auto loan portfolio.
The transaction closed in the first quarter of 2010. In September 2010, Santander purchased Bank Zachodni WBK from Allied Irish Banks. On 28 February 2012, Santander announced that it had reached an agreement with KBC Bank to buy KBC's subsidiary Kredyt B
Hugo Rafael Chávez Frías was a Venezuelan politician, President of Venezuela from 1999 until his death in 2013. Chávez was leader of the Fifth Republic Movement political party from its foundation in 1997 until 2007, when it merged with several other parties to form the United Socialist Party of Venezuela, which he led until 2012. Born into a working-class family in Sabaneta, Barinas, Chávez became a career military officer, after becoming dissatisfied with the Venezuelan political system based on the Puntofijo Pact, he founded the clandestine Revolutionary Bolivarian Movement-200 in the early 1980s. Chávez led the MBR-200 in an unsuccessful coup d'état against the Democratic Action government of President Carlos Andrés Pérez in 1992, for which he was imprisoned. Pardoned from prison after two years, he founded a political party known as the Fifth Republic Movement and was elected President of Venezuela in 1998, he was re-elected again in 2006 with over 60 % of the votes. After winning his fourth term as president in the October 2012 presidential election, he was to be sworn in on 10 January 2013, but Venezuela's National Assembly postponed the inauguration to allow him time to recover from medical treatment in Cuba.
Suffering a return of the cancer diagnosed in June 2011, Chávez died in Caracas on 5 March 2013 at the age of 58. Following the adoption of a new constitution in 1999, Chávez focused on enacting social reforms as part of the Bolivarian Revolution. Using record-high oil revenues of the 2000s, his government nationalized key industries, created participatory democratic Communal Councils and implemented social programs known as the Bolivarian missions to expand access to food, housing and education. Venezuela received high oil profits in the mid-2000s, resulting in temporary improvements in areas such as poverty, income equality and quality of life occurring between 2003 and 2007, though these gains started to reverse after 2012 and it has been argued that government policies did not address structural inequalities. Chávez's populist policies led to a severe socioeconomic crisis in Venezuela. On 2 June 2010, Chávez declared an "economic war" due to shortages in Venezuela, beginning the crisis in Bolivarian Venezuela.
By the end of Chávez's presidency in the early 2010s, economic actions performed by his government during the preceding decade such as deficit spending and price controls proved to be unsustainable, with Venezuela's economy faltering while poverty and shortages increased. Chávez's presidency saw significant increases in the country's murder rate and continued corruption within the police force and government, his use of enabling acts and his government's use of Bolivarian propaganda were controversial. Internationally, Chávez aligned himself with the Marxist–Leninist governments of Fidel and Raúl Castro in Cuba, as well as the socialist governments of Evo Morales, Rafael Correa and Daniel Ortega, his presidency was seen as a part of the socialist "pink tide" sweeping Latin America. Chávez described his policies as anti-imperialist, being a prominent adversary of the United States's foreign policy as well as a vocal critic of U. S.-supported laissez-faire capitalism. He described himself as a Marxist.
He supported Latin American and Caribbean cooperation and was instrumental in setting up the pan-regional Union of South American Nations, the Community of Latin American and Caribbean States, the Bolivarian Alliance for the Americas, the Bank of the South and the regional television network TeleSUR. Chavez's ideas and style form the basis of "Chavismo", a political ideology associated with Bolivarianism and socialism of the 21st century, he was born on 28 July 1954 in his paternal grandmother Rosa Inéz Chávez's home, a modest three-room house located in the rural village Sabaneta, Barinas State. The Chávez family were of Afro-Venezuelan and Spanish descent, his parents, Hugo de los Reyes Chávez, described as a proud COPEI member, Elena Frías de Chávez, were schoolteachers who lived in the small village of Los Rastrojos. Hugo was born the second of seven children. Hugo described his childhood as "poor... happy", though his childhood of supposed poverty has been disputed as Chávez changed the story of his background for political reasons.
Attending the Julián Pino Elementary School, Chávez was interested in the 19th-century federalist general Ezequiel Zamora, in whose army his own great-great-grandfather had served. With no high school in their area, Hugo's parents sent Hugo and his older brother Adán to live with their grandmother Rosa, who lived in a lower middle class subsidized home provided by the government, where they attended Daniel O'Leary High School in the mid-1960s. Hugo described his grandmother as being "a pure human being... pure love, pure kindness". She was a devout Roman Catholic and Hugo was an altar boy at a local church, his father, despite having the salary of a teacher, helped pay for college for Chávez and his siblings. Aged 17, Chávez studied at the Venezuelan Academy of Military Sciences in Caracas, following a curriculum known as the Andrés Bello Plan, instituted by a group of progressive, nationalistic military officers; this new curriculum encouraged students to learn not only military routines and tactics but a wide variety of other topics, to do so civilian professors were brought in from other universities to give lectures to the military cadets.
Living in Caracas, he saw more of the endemic poverty faced by working class Venezuelans, said that this experience only made him further committed
Venezuela the Bolivarian Republic of Venezuela, is a country on the northern coast of South America, consisting of a continental landmass and a large number of small islands and islets in the Caribbean Sea. The capital and largest urban agglomeration is the city of Caracas, it has a territorial extension of 916,445 km2. 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 and Tobago to the north-east and on the east by Guyana. With this last country, the Venezuelan government maintains a claim for Guayana Esequiba over an area of 159,542 km2. For its maritime areas, it exercises sovereignty over 71,295 km2 of territorial waters, 22,224 km2 in its contiguous zone, 471,507 km2 of the Caribbean Sea and the Atlantic Ocean under the concept of exclusive economic zone, 99,889 km2 of continental shelf; this marine area borders those of 13 states. The country has high biodiversity and is ranked seventh in the world's list of nations with the most number of species.
There are habitats ranging from the Andes Mountains in the west to the Amazon basin rain-forest in the south via extensive llanos plains, the Caribbean coast and the Orinoco River Delta in the east. The territory now known as 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, not securely established until 1821, when Venezuela was a department of the federal republic of Gran Colombia, it gained full independence as a country in 1830. During the 19th century, Venezuela suffered political turmoil and autocracy, remaining dominated by regional caudillos until the mid-20th century. Since 1958, the country has had a series of democratic governments. Economic shocks in the 1980s and 1990s led to several political crises, including the deadly Caracazo riots of 1989, two attempted coups in 1992, the impeachment of President Carlos Andrés Pérez for embezzlement of public funds in 1993.
A collapse in confidence in the existing parties saw the 1998 election of former coup-involved career officer Hugo Chávez and the launch of the Bolivarian Revolution. The revolution began with a 1999 Constituent Assembly, where a new Constitution of Venezuela was written; this new constitution changed the name of the country to Bolivarian Republic of Venezuela. The sovereign state is a federal presidential republic consisting of 23 states, the Capital District, federal dependencies. Venezuela claims all Guyanese territory west of the Essequibo River, a 159,500-square-kilometre tract dubbed Guayana Esequiba or the Zona en Reclamación. Venezuela is among the most urbanized countries in Latin America. Oil was discovered in the early 20th century, today, Venezuela has the world's largest known oil reserves and has been one of the world's leading exporters of oil; the country was an underdeveloped exporter of agricultural commodities such as coffee and cocoa, but oil came to dominate exports and government revenues.
The 1980s oil glut led to a long-running economic crisis. Inflation peaked at 100% in 1996 and poverty rates rose to 66% in 1995 as per capita GDP fell to the same level as 1963, down a third from its 1978 peak; the recovery of oil prices in the early 2000s gave. The Venezuelan government under Hugo Chávez established populist social welfare policies that boosted the Venezuelan economy and increased social spending, temporarily reducing economic inequality and poverty in the early years of the regime. However, such populist policies became inadequate, causing the nation's collapse as their excesses—including a uniquely extreme fossil fuel subsidy—are blamed for destabilizing the nation's economy; the destabilized economy led to a crisis in Bolivarian Venezuela, resulting in hyperinflation, an economic depression, shortages of basic goods and drastic increases in unemployment, disease, child mortality and crime. These factors have precipitated the Venezuelan Migrant Crisis where more than three million people have fled the country.
By 2017, Venezuela was declared to be in default regarding debt payments by credit rating agencies. In 2018, the country's economic policies led to extreme hyperinflation, with estimates expecting an inflation rate of 1,370,000% by the end of the year. Venezuela is a charter member of the UN, OAS, UNASUR, ALBA, Mercosur, LAIA and OEI. According to the most popular and accepted version, in 1499, an expedition led by Alonso de Ojeda visited the Venezuelan coast; the stilt houses in the area of Lake Maracaibo reminded the Italian navigator, Amerigo Vespucci, of the city of Venice, Italy, so he named the region Veneziola, or "Little Venice". The Spanish version of Veneziola is Venezuela. Martín Fernández de Enciso, a member of the Vespucci and Ojeda crew, gave a different account. In his work Summa de geografía, he states that the crew found indigenous people who called themselves the Veneciuela. Thus, the name "Venezuela" may have evolved from the native word; the official name was Estado de Venezuela, República de Venezuela, Estados Unidos de Venezuela, a