Néstor Carlos Kirchner Jr. was an Argentine politician who served as President of Argentina from 2003 to 2007 and as Governor of Santa Cruz from 1991 to 2003. Ideologically a Peronist and social democrat, he served as President of the Justicialist Party from 2008 to 2010, with his political approach being characterised as Kirchnerism. Born in Río Gallegos, Santa Cruz, Kirchner studied law at the National University of La Plata, he met and married Cristina Fernández at this time, returned with her to Río Gallegos at graduation, opened a law firm. Commentators have criticized him for a lack of legal activism during the Dirty War, an issue he would involve himself in as president. Kirchner ran for mayor of Río Gallegos in 1987 and for governor of Santa Cruz in 1991, he was reelected governor in 1999 due to an amendment of the provincial constitution. Kirchner sided with Buenos Aires provincial governor Eduardo Duhalde against President Carlos Menem. Although Duhalde lost the 1999 presidential election, he was appointed president by the Congress when previous presidents Fernando de la Rúa and Adolfo Rodríguez Saá resigned during the December 2001 riots.
Duhalde suggested that Kirchner run for president in 2003 in a bid to prevent Menem's return to the presidency. Menem won a plurality in the first round of the presidential election but, fearing that he would lose in the required runoff election, he resigned. Kirchner took office on 25 May 2003. Roberto Lavagna, credited with the economic recovery during Duhalde's presidency, was retained as minister of economy and continued his economic policies. Argentina repaid the International Monetary Fund; the National Institute of Statistics and Census intervened to underestimate growing inflation. Several Supreme Court judges resigned while fearing impeachment, new justices were appointed; the amnesty for crimes committed during the Dirty War in enforcing the full-stop and due-obedience laws and the presidential pardons were repealed and declared unconstitutional. This led to new trials for the military. Argentina increased its integration with other Latin American countries, discontinuing its automatic alignment with the United States dating to the 1990s.
The 2005 midterm elections were a victory for Kirchner, signaled the end of Duhalde's supremacy in Buenos Aires Province. Instead of seeking reelection, Kirchner stepped aside in 2007 in support of his wife, Cristina Fernández, elected president, he participated in the unsuccessful Operation Emmanuel to release FARC hostages, was narrowly defeated in the 2009 midterm election for deputy of Buenos Aires Province. Kirchner was appointed Secretary General of UNASUR in 2010, he and his wife were involved in the 2013 political scandal known as the Route of the K-Money. Kirchner died of cardiac arrest on 27 October 2010, received a state funeral. Kirchner was born Néstor Carlos Kirchner Jr. on 25 February 1950, in Río Gallegos, Santa Cruz, a federal territory at the time. His father, Néstor Carlos Kirchner Sr. met the Chilean María Juana Ostoić by telegraphy. They had three children: Néstor and María Cristina. Néstor was part of the third generation of Kirchners living in the city; as a result of pertussis, he developed strabismus at an early age.
When Kirchner was in high school he considered becoming a teacher, but poor diction hampered him. Kirchner moved to La Plata in 1969 to study law at the National University. During this period, the decline of the Argentine Revolution, the return of former president Juan Perón from exile, the election of Héctor Cámpora as president, his resignation and the election of Perón, the beginning of the Dirty War had led to severe political turmoil. Kirchner joined the University Federation for the National Revolution, a political student group whose relationship with the Montoneros guerrillas is a matter of debate. Kirchner was not a leader of the group, he was present at the Ezeiza massacre, in which right-wing Peronist snipers opened fire on a celebration of Juan Perón's return at the Ezeiza International Airport. He was present at the expulsion of Montoneros from Plaza de Mayo. Although Kirchner met many members of the Montoneros, he was not a member of the group. By the time the Montoneros were outlawed by Perón, he had left FURN.
In 1974 Kirchner met Cristina Fernández, three years his junior, they fell in love. They were married after a courtship limited to six months by the political turmoil in the country. At the civil ceremony, Kirchner's friends sang the Peronist song "Los Muchachos Peronistas", he graduated a year returned to Patagonia with Cristina, established a law firm with fellow attorney Domingo Ortiz de Zarate. Cristina joined the firm in 1979. By the time of Kirchner's graduation and move to the Patagonia, Juan Perón had died, his vice president and wife Isabel Martínez de Perón had become president. Isabel Perón had been unseated by a coup d'état; the Kirchners worked for banks and financial groups which filed foreclosures, since the Central Bank's 1050 ruling had raised mortgage loan interest rates. And acquired 21 real-estate lots for a low price when they were about to be auctioned, their law firm defended. Forced disappearances were common during the Dirty War, but unlike other lawyers of the time the Kirchners never signed a habeas corpus.
Julio César Strassera, prosecutor in the
Economy of Argentina
The economy of Argentina is a high income economy for fiscal year 2017 according to the World Bank. It is Latin America's third largest economy, the second largest in South America behind Brazil; the country benefits from rich natural resources, a literate population, an export-oriented agricultural sector, a diversified industrial base. Argentina's economic performance has been uneven, in which high economic growth alternated with severe recessions since the late twentieth century, income maldistribution and poverty increased. Early in the twentieth century Argentina had one of the ten highest per capita GDP levels in the world, at par with Canada and Australia and surpassing both France and Italy. Argentina's currency declined by about 50% in 2018 to more than 38 Argentine pesos per U. S. Dollar and today is under a stand-by program from the International Monetary Fund. Argentina is considered an emerging market by the FTSE Global Equity Index, is one of the G-20 major economies. Prior to the 1880s, Argentina was a isolated backwater, dependent on the salted meat, wool and hide industries for both the greater part of its foreign exchange and the generation of domestic income and profits.
The Argentine economy began to experience swift growth after 1880 through the export of livestock and grain commodities, as well as through British and French investment, marking the beginning of a fifty-year era of significant economic expansion and mass European immigration. During its most vigorous period, from 1880 to 1905, this expansion resulted in a 7.5-fold growth in GDP, averaging about 8% annually. One important measure of development, GDP per capita, rose from 35% of the United States average to about 80% during that period. Growth slowed such that by 1941 Argentina's real per capita GDP was half that of the U. S. So, from 1890 to 1950 the country's per capita income was similar to that of Western Europe; the Great Depression caused Argentine GDP to fall by a fourth between 1929 and 1932. Having recovered its lost ground by the late 1930s through import substitution, the economy continued to grow modestly during World War II; the war led to a reduced availability of imports and higher prices for Argentine exports that combined to create a US$1.6 billion cumulative surplus, a third of, blocked as inconvertible deposits in the Bank of England by the Roca–Runciman Treaty.
Benefiting from innovative self-financing and government loans alike, value added in manufacturing surpassed that of agriculture for the first time in 1943, employed over 1 million by 1947, allowed the need for imported consumer goods to decline from 40% of the total to 10% by 1950. The populist administration of Juan Perón nationalized the Central Bank and other strategic industries and services from 1945 to 1955; the subsequent enactment of developmentalism after 1958, though partial, was followed by a promising fifteen years. Inflation first became a chronic problem during this period. While unremarkable, this expansion was well-distributed and so resulted in several noteworthy changes in Argentine society - most notably the development of the largest proportional middle class in Latin America as well as the region's highest-paid, most unionized working class; the economy, declined during the military dictatorship from 1976 to 1983, for some time afterwards. The dictatorship's chief economist, José Alfredo Martínez de Hoz, advanced a corrupt, anti-labor policy of financial liberalization that increased the debt burden and interrupted industrial development and upward social mobility.
Over 400,000 companies of all sizes went bankrupt by 1982, neoliberal economic policies prevailing from 1983 through 2001 failed to reverse the situation. Record foreign debt interest payments, tax evasion, capital flight resulted in a balance of payments crisis that plagued Argentina with severe stagflation from 1975 to 1990, including a bout of hyperinflation in 1989 and 1990. Attempting to remedy this situation, economist Domingo Cavallo pegged the peso to the U. S. limited the growth in the money supply. His team embarked on a path of trade liberalization and privatization. Inflation dropped to single digits and GDP grew by one third in four years. External economic shocks, as well as a dependency on volatile short-term capital and debt to maintain the overvalued fixed exchange rate, diluted benefits, causing erratic economic growth from 1995 and the eventual collapse in 2001; that year and the next, the economy suffered its sharpest decline since 1930. Argentina's socio-economic situation has since been improving.
Expansionary policies and commodity exports triggered a rebound in GDP from 2003 onward. This trend has been maintained, creating over five million jobs and encouraging domestic consumption and fixed investment. Social programs were strengthened, a number of important firms privatized during the 1990s were renationalized beginning in 2003; these include the postal service, AySA, Pension funds, Aerolíneas Argentinas, the energy firm YPF, the railways. The economy nearly dou
The Argentine Senate is the upper house of the National Congress of Argentina. The National Senate was established by the Argentine Confederation on July 29, 1854, pursuant to Articles 46 to 54 of the 1853 Constitution. There are three for the Autonomous City of Buenos Aires; the number of senators per province was raised from two to three following the 1994 amendment of the Argentine Constitution, the change took effect following the May 14, 1995, general elections. Senators are elected to six-year terms by direct election on a provincial basis, with the party with the most votes being awarded two of the province's senate seats and the second-place party receiving the third seat. Senators were indirectly elected to nine-year terms by each provincial legislature; these provisions were abrogated by a 1994 constitutional amendment, direct elections to the Senate took effect in 2001. One-third of the members are elected every two years. One-third of the provinces hold senatorial elections every two years.
The Vice President of the Republic is ex officio President of the Senate, with a casting vote in the event of a tie. In practice, the Provisional President presides over the chamber most of the time; the Senate must obtain this being an absolute majority. It has the power to approve bills passed by the Chamber of Deputies, call for joint sessions with the Lower House or special sessions with experts and interested parties, submit bills for the president's signature; the Senate must introduce any changes to federal revenue sharing policies, ratify international treaties, approve changes to constitutional or federal criminal laws, as well as confirm or impeach presidential nominees to the cabinet, the judiciary, the armed forces, the diplomatic corps, among other federal posts. There are twenty-four standing committees made up of fifteen members each, namely: Agreements Constitutional Affairs Foreign Affairs and Worship Justice and Criminal Affairs General Legislation Budget and Finance Administrative and Municipal Affairs National Defense Domestic Security and Drug Trafficking National Economy and Investment Industry and Trade Regional Economies, Micro and Medium Enterprises Labor and Social Security Agriculture, Cattle Raising and Fishing Education, Culture and Technology Rights and Guarantees Mining and Fuels Health and Sports Infrastructure and Transport Systems and Freedom of Speech Environment and Human Development Population and Human Development Federal Revenue Sharing Tourism.
According to Section 55 of the Argentine Constitution, candidates for the Argentine Senate must: be at least 30 years old have been a citizen of Argentina for six years be native to the province of his office, or have been a resident of that province for two years. See List of current members of the Argentine SenateAll data from official website; the current members of the Senate were elected in 2013, 2015 and 2017. The titular President of the Senate is the Vice President of Argentina. However, day to day leadership of the Senate is exercised by the Provisional President. Current leadership positions include: List of current Argentine senators Argentine Chamber of Deputies List of former Argentine Senators List of legislatures by country senado.gov.ar – Senate of Argentina
The Dirty War is the name used by the military junta or civic-military dictatorship of Argentina for the period of United States-backed state terrorism in Argentina from 1974 to 1983 as a part of Operation Condor, during which military and security forces and right-wing death squads in the form of the Argentine Anticommunist Alliance hunted down any political dissidents and anyone believed to be associated with socialism, left-wing Peronism or the Montoneros movement. About 30,000 people disappeared, many of whom were impossible to formally report due to the nature of state terrorism; the justification for the Dirty War was the armed actions of the Montoneros and the ERP. From 1969 to 1979, there were 1,020 murders by the guerrillas. Therefore, the targets were students, trade unionists, journalists and anyone suspected to be a left-wing activist, including Peronist guerrillas; the "disappeared" included those thought to be politically or ideologically a threat to the military junta vaguely, or contrary to the plan of neoliberal economic policies dictated by Operation Condor.
They were killed in an attempt by the junta to silence the political opposition. Many of the members of the juntas are in prison for crimes against humanity and genocide. In the decades before the 1976 coup, the Argentinian military, supported by the Argentine establishment, opposed Juan Domingo Perón's populist government and attempted a coup in 1951 and two in 1955 before succeeding with the self-proclaimed Revolución Libertadora. After taking control, the armed forces proscribed Peronism, a decision that triggered the organization of Peronist resistance in workplaces and trade unions, as the working classes sought to protect the economic and social improvements obtained under Perón's rule. Soon after the coup, Peronist resistance began organizing in workplaces and trade unions as the working classes sought economic and social improvements. Over time, as democratic rule was restored, but promises of legalizing the expression and political liberties for Peronism were not respected, guerrilla groups began to operate in the 1960s, namely Uturuncos and the EGP.
Both were small and defeated. As Perón returned from exile in 1973, the Ezeiza massacre marked the end of the alliance between left- and right-wing factions of Peronism. In 1974, Perón withdrew his support for the Montoneros shortly before his death. During the presidency of his widow Isabel, the far-right paramilitary death squad Argentine Anticommunist Alliance emerged. In 1975, Isabel signed a number of decrees empowering the military and the police to "annihilate" left-wing activists. In 1976, her government was overthrown as a part of Operation Condor by a military coup led by General Jorge Rafael Videla; the junta, calling itself the National Reorganization Process and carried out strong repression of political dissidents through the government's military and security forces. They were responsible for the arrest, killings and/or forced disappearances of an estimated 30,000 people; the junta would dictate Argentina's future. With the help of Washington, the junta was aided with $50 million in military aid.
Another group in the far right, responsible for the death of many was, Alianza Anticomunista Argentina other wise known as Triple A. Triple A was ruled under Jose Lopez Rega, the Minister of Social Welfare who used Triple A as a death squad regime. Both the junta and Triple A targeted young professionals, high school and college students and trade union members; these groups of people became main targets because of their involvement in political organizations that exploited the work of the right-wing group. Assassination occurred domestically in Argentina via mass shootings and the throwing of live citizens from airplanes to death in the South Atlantic. Additionally, 12,000 prisoners, many of whom had not been convicted through legal processes, were detained in a network of 340 secret concentration camps located throughout Argentina. Triple A partnered with the army and the air force to terrorize the population. Navy captains such as Adolfo Scilingo performed massive number of executions; these actions against victims called desaparecidos because they "disappeared" without explanation were confirmed via Scilingo, who has publicly confessed his participation in the Dirty War, stating that the Argentinian military "did worse things than the Nazis".
In 1983, the National commission on Disappeared People forced Scilingo to testify where he described how "prisoners were drugged, loaded onto military planes, thrown and semi-conscious, into the Atlantic Ocean". A vast majority of those who were killed left with no record of their disappearance; the junta referred to their policy of suppressing opponents as the National Reorganization Process. Argentine military and security forces created paramilitary death squads, operating behind "fronts" as independent units. Argentina coordinated actions with other South American dictatorships as in Operation Condor. Faced with increasing public opposition and severe economic problems, the military tried to regain popularity by occupying the disputed Falkland Islands. During the resulting Falklands War, the military government lost any remaining favour after its defeat by Britain, forcing it to step aside in disgrace and allow for free elections to be held in late 1983; the democratic government of Raúl Alfonsín was elected to office in 1983
Carlos Saúl Menem Akil is an Argentine politician, President of Argentina from July 8, 1989 to December 10, 1999. He has been a Senator for La Rioja Province since December 10, 2005. Born in Anillaco, Menem became a Peronist during a visit to Buenos Aires, he led the party in his home province of La Rioja, was elected governor in 1973. He was deposed and detained during the 1976 Argentine coup d'état, was elected governor again in 1983, he defeated the Buenos Aires governor Antonio Cafiero in the primary elections for the 1989 presidential elections, which he won. Hyperinflation forced outgoing president Raúl Alfonsín to resign early, shortening the presidential transition. Menem supported the Washington Consensus, tackled inflation with the Convertibility plan in 1991; the plan was complemented by a series of privatizations, was a success. Argentina re-established diplomatic relations with the United Kingdom, suspended since the 1982 Falklands War, developed special relations with the United States.
The country suffered two terrorist attacks. The Peronist victory in the 1993 midterm elections allowed him to force Alfonsín to sign the Pact of Olivos for the 1994 amendment of the Argentine Constitution; this amendment allowed Menem to run for re-election in 1995. A new economic crisis began, the opposing parties formed a political coalition that won the 1997 midterm elections and the 1999 presidential election. Menem ran for the presidency again in 2003, but faced with a defeat in a ballotage against Néstor Kirchner, he chose to pull out of the ballotage handing the presidency to Kirchner, he was elected senator for La Rioja in 2005. At 88, he is the oldest living former Argentine president. Carlos Saúl Menem was born in 1930 in Anillaco, a small town in the mountainous north of La Rioja Province, Argentina, his parents, Saúl Menem and Mohibe Akil, were Syrian nationals from Yabroud who had emigrated to Argentina. He attended elementary and high school in La Rioja, joined a basketball team during his university studies.
He visited Buenos Aires in 1951 with the team, met the president Juan Perón and his wife Eva Perón. This influenced Menem to become a Peronist, he studied law at the National University of Córdoba, graduating in 1955. After President Juan Peron's overthrow in 1955, Menem was incarcerated, he joined the successor to the Peronist Party, the Justicialist Party. He was elected president of its La Rioja Province chapter in 1973. In that capacity, he was included in the flight to Spain that brought Perón back to Argentina after his long exile. According to the Peronist politician Juan Manuel Abal Medina, Menem played no special part in the event. Menem was elected governor in 1973, he was deposed during the 1976 Argentine coup d'état that deposed the president Isabel Martínez de Perón. He was accused of corruption, having links with the guerrillas of the Dirty War, he was detained on March 25, kept for a week at a local regiment, moved to a temporary prison at the ship "33 Orientales" in Buenos Aires. He was detained alongside former ministers Antonio Cafiero, Jorge Taiana, Miguel Unamuno, José Deheza, Pedro Arrighi, the unionists Jorge Triaca, Diego Ibáñez, Lorenzo Miguel, the diplomat Jorge Vázquez, the journalist Osvaldo Papaleo, the former president Raúl Lastiri.
He shared a cell with Juan Perón's personal physician. During this time he helped the chaplain Lorenzo Lavalle, despite being a Muslim. In July he was sent to a permanent prison, his wife Zulema rejected his conversion to Christianity. His mother died during the time he was a prisoner, dictator Jorge Rafael Videla denied his request to attend her funeral, he was released on July 29, 1978, on the condition that he live in a city outside his home province without leaving it. He settled in Mar del Plata. Menem met Admiral Eduardo Massera, who intended to run for president, had public meetings with personalities such as Carlos Monzón, Susana Giménez, Alberto Olmedo; as a result, he was forced to reside in Tandil. He had to report daily to Chief of Police Hugo Zamora; this forced residence was lifted in February 1980. He returned to Buenos Aires, to La Rioja, he resumed his political activities, despite the prohibition, was detained again. His new forced residence was in Formosa Province, he was one of the last politicians to be released from prison by the National Reorganization Process.
Military rule ended in 1983, the radical Raúl Alfonsín was elected president. Menem ran for governor again, was elected by a clear margin; the province benefited from tax regulations established by the military, which allowed increased industrial growth. His party got control of the provincial legislature, he was re-elected in 1987 with 63% of the vote; the PJ was divided in two factions, the conservatives that still supported the political doctrines of Juan and Isabel Perón, those who proposed a renovation of the party. The internal disputes ceased in 1987. Menem, with his prominent victory in his district, was one of the leading figures of the party, disputed its leadership. Antonio Cafiero, elected governor of Buenos Aires Province, led the renewal of the PJ, was considered their most candidate for the presidency. Menem, on the other hand, was seen as a populist leader. Using a big tent approach, he got support from several unrelated political figures; as a result, he defeated Cafiero in the primary elections.
He sought alliances with Bunge and Born, union leaders, former members of Montoneros, the AAA, people from the church, "Carapintadas", etc. He promise
A political spectrum is a system of classifying different political positions upon one or more geometric axes that represent independent political dimensions. Most long-standing spectra include a left wing, which referred to seating arrangements in the French parliament after the Revolution. On a left–right spectrum and socialism are regarded internationally as being on the left, Liberalism can mean different things in different contexts: sometimes on the left; those with an intermediate outlook are sometimes classified as centrists. That said and neoliberals are called centrists too. Politics that rejects the conventional left–right spectrum is known as syncretic politics, though the label tends to mischaracterize positions that have a logical location on a two-axis spectrum because they seem randomly brought together on a one-axis left-right spectrum. Political scientists have noted that a single left–right axis is insufficient for describing the existing variation in political beliefs and include other axes.
Though the descriptive words at polar opposites may vary in popular biaxial spectra the axes are split between socio-cultural issues and economic issues, each scaling from some form of individualism to some form of communitarianism. The terms right and left refer to political affiliations originating early in the French Revolutionary era of 1789–1799 and referred to the seating arrangements in the various legislative bodies of France; as seen from the Speaker's seat at the front of the Assembly, the aristocracy sat on the right and the commoners sat on the left, hence the terms right-wing politics and left-wing politics. The defining point on the ideological spectrum was the Ancien Régime. "The Right" thus implied support for aristocratic or royal interests and the church, while "The Left" implied support for republicanism and civil liberties. Because the political franchise at the start of the revolution was narrow, the original "Left" represented the interests of the bourgeoisie, the rising capitalist class.
Support for laissez-faire commerce and free markets were expressed by politicians sitting on the left because these represented policies favorable to capitalists rather than to the aristocracy, but outside parliamentary politics these views are characterized as being on the Right. The reason for this apparent contradiction lies in the fact that those "to the left" of the parliamentary left, outside official parliamentary structures represent much of the working class, poor peasantry and the unemployed, their political interests in the French Revolution lay with opposition to the aristocracy and so they found themselves allied with the early capitalists. However, this did not mean that their economic interests lay with the laissez-faire policies of those representing them politically; as capitalist economies developed, the aristocracy became less relevant and were replaced by capitalist representatives. The size of the working class increased as capitalism expanded and began to find expression through trade unionist, socialist and communist politics rather than being confined to the capitalist policies expressed by the original "left".
This evolution has pulled parliamentary politicians away from laissez-faire economic policies, although this has happened to different degrees in different countries those with a history of issues with more authoritarian-left countries, such as the Soviet Union or China under Mao Zedong. Thus the word "Left" in American political parlance may refer to "liberalism" and be identified with the Democratic Party, whereas in a country such as France these positions would be regarded as more right-wing, or centrist overall, "left" is more to refer to "socialist" or "social-democratic" positions rather than "liberal" ones. For a century, social scientists have considered the problem of how best to describe political variation. In 1950, Leonard W. Ferguson analyzed political values using ten scales measuring attitudes toward: birth control, capital punishment, communism, law, theism, treatment of criminals and war. Submitting the results to factor analysis, he was able to identify three factors, which he named religionism and nationalism.
He defined religionism as belief in God and negative attitudes toward birth control. This system was derived empirically, as rather than devising a political model on purely theoretical grounds and testing it, Ferguson's research was exploratory; as a result of this method, care must be taken in the interpretation of Ferguson's three factors, as factor analysis will output an abstract factor whether an objectively real factor exists or not. Although replication of the nationalism factor was inconsistent, the finding of religionism and humanitarianism had a number of replications by Ferguson and others. Shortly afterward, Hans Eysenck began researching political attitudes in Great Britain, he believed that there was something similar about the National Socialists on the one hand and the communists on the other, despite their opposite positions on the left–right axis. As Hans Eysenck described in his 1956 book Sense and
Caracas Santiago de León de Caracas, is the capital and largest city of Venezuela, centre of the Greater Caracas Area. Caracas is located along the Guaire River in the northern part of the country, following the contours of the narrow Caracas Valley on the Venezuelan coastal mountain range. Terrain suitable for building lies between 760 and 1,140 m above sea level, although there is some settlement above this range; the valley is close to the Caribbean Sea, separated from the coast by a steep 2,200-metre-high mountain range, Cerro El Ávila. The Metropolitan Region of Caracas has an estimated population of 4,923,201. Speaking, the centre of the city is still "Catedral", located near Bolívar Square though it is assumed that it is Plaza Venezuela, located in the Los Caobos neighbourhood. Chacaíto area, Luis Brión Square and El Rosal neighborhood are considered the geographic center of the Metropolitan Region of Caracas called "Greater Caracas". Businesses in the city include service companies and malls.
Caracas has a service-based economy, apart from some industrial activity in its metropolitan area. The Caracas Stock Exchange and Petróleos de Venezuela are headquartered in Caracas. PDVSA is the largest company in Venezuela. Caracas is Venezuela's cultural capital, with many restaurants, theaters and shopping centers; some of the tallest skyscrapers in Latin America are located in Caracas. Caracas has been considered one of the most important cultural, tourist and economic centers of Latin America; the Museum of Contemporary Art of Caracas is one of the most important in South America. The Museum of Fine Arts and the National Art Gallery of Caracas are noteworthy; the National Art Gallery is projected to be the largest museum in Latin America, according to its architect Carlos Gómez De Llarena. Caracas is home to two of the tallest skyscrapers in South America: the Parque Central Towers, it has a nominal GDP of 91,988 million dollars, a nominal GDP per capita of 18,992 and a PPP GDP per capita of 32,710 dollars.
Being the seventh city in GDP and the seventh metropolitan area in population of Latin America. Caracas has the highest per capita murder rate in the world, with 111.19 homicides per 100,000 inhabitants. At the time of the founding of the city in 1567, the valley of Caracas was populated by indigenous peoples. Francisco Fajardo, the son of a Spanish captain and a Guaiqueri cacica, attempted to establish a plantation in the valley in 1562 after founding a series of coastal towns. Fajardo's settlement did not last long, it was destroyed by natives of the region led by Guaicaipuro. This was the last rebellion on the part of the natives. On 25 July 1567, Captain Diego de Losada laid the foundations of the city of Santiago de León de Caracas; the foundation − 1567 – "I take possession of this land in the name of God and the King" These were the words of Don Diego de Losada in founding the city of Caracas on 25 July 1567. In 1577, Caracas became the capital of the Spanish Empire's Venezuela Province under Governor Juan de Pimentel.
During the 17th century, the coast of Venezuela was raided by pirates. With the coastal mountains as a barrier, Caracas was immune to such attacks. However, in 1595, around 200 English privateers including George Sommers and Amyas Preston crossed the mountains through a little-used pass while the town's defenders were guarding the more often-used one. Encountering little resistance, the invaders sacked and set fire to the town after a failed ransom negotiation; as the cocoa cultivation and exports under the Compañía Guipuzcoana de Caracas grew in importance, the city expanded. In 1777, Caracas became the capital of the Captaincy General of Venezuela. José María España and Manuel Gual led an attempted revolution aimed at independence, but the rebellion was put down on 13 July 1797. Caracas was the site of the signing of a Declaration of independence on 17 August 1811. In 1812, an earthquake destroyed Caracas; the independentist war continued until 24 June 1821, when Bolívar defeated royalists in the Battle of Carabobo.
Caracas grew in economic importance during Venezuela's oil boom in the early 20th century. During the 1950s, Caracas began an intensive modernization program which continued throughout the 1960s and early 1970s; the Universidad Central de Venezuela, designed by modernist architect Carlos Raúl Villanueva and declared World Heritage by UNESCO, was built. New working- and middle-class residential districts sprouted in the valley, extending the urban area toward the east and southeast. Joining El Silencio designed by Villanueva, were several workers' housing districts, 23 de Enero and Simon Rodriguez. Middle-class developments include Bello Monte, Los Palos Grandes, El Cafetal; the dramatic change in the economic structure of the country, which went from being agricultural to dependent on oil production, stimulated the fast development of Caracas, made it a magnet for people in rural communities who migrated to the capital city in an unplanned fashion searching for greater economic opportunity. This migration created the rancho belt of the valley of Caracas.
The flag of Caracas consists of a burgundy red field with the version of the Coat of Arms of the City. The red field symbolises the blood spilt by Caraquenian people in favour of independence and the highest ideals of the Venezuelan Nation. In the year 1994 as a result of the change of municipal authorities, it was decided to increase the size of the Caracas coat of arms and move it to the centre of the field; this version