Hugo Chávez Installed as Venezuela's President for Another Six Years

Hugo Chávez was re-inaugurated as Venezuela’s President for a six-year term on January 10, after soundly winning a December 3 election with 63% of the vote. His regime first came to power in 1998, and he has consistently made efforts to use oil profits to better the lot of the Venezuelan poor and working class. He forged links with other left-wing Latin American governments through the Bolivarian Alternative for the Americas, which now includes Venezuela, Bolivia, Cuba, and Nicaragua. Chávez flew directly from his inauguration to attend the inauguration of Daniel Ortega in Nicaragua, which was held up a few hours so that Chávez could be in attendance. While there, Chávez forgave Nicaragua’s $31 million debt to Venezuela and said he wants to build an oil refinery in Nicaragua which would meet the small country’s need for gasoline.

Chávez’ domestic popularity is in part due to the fact that poverty has been reduced in Venezuela from 50% to 34% since 1999. His remarks at the United Nations last year, where he called George Bush “The Devil,” may have hurt Venezuela’s try for a seat in the Security Council, but played well at home. After his election, Chávez announced he was forming a new party, the United Socialist Party, to represent the aspirations of Venezuelans while cutting through bureaucracy. In a televised speech on January 8, after swearing in his new cabinet, Chávez announced that he will nationalize electrical and telecommunications businesses. He cited the ideals of Marx, Lenin and Trotsky, and said: “We’re heading towards socialism, and nothing and no one can prevent it.”