About Venezuela

Venezuela Population: 25,017,387 (July 2004 est.)
Languages: Spanish (official), numerous indigenous dialects
Capital: Caracas
Government Type: Federal Republic
Independence Day: 5 July 1811 (from Spain)
Legal System: Based on organic laws as of July 1999; open, adversarial court system; has not accepted compulsory ICJ jurisdiction.
Currency: Bolivar (VEB)

Executive Branch:

Chief of State: President Hugo CHAVEZ Frias (since 3 February 1999); Vice President Jose Vicente RANGEL (since 28 April 2002); note - the president is both the chief of state and head of government.

Head of Government: President Hugo CHAVEZ Frias (since 3 February 1999); Vice President Jose Vicente RANGEL (since 28 April 2002); note - the president is both the chief of state and head of government.

American Embassy: Calle F con Calle Suapure, Urbanizacion Colinas de Valle Arriba, Caracas 1080
Mailing Address: P. O. Box 62291, Caracas 1060-A; APO AA 34037
Telephone: [58] (212) 975-9234, 975-6411 FAX: [58] (212) 975-8991

Economic Overview: Venezuela continues to be highly dependent on the petroleum sector, which accounts for roughly one-third of GDP, around 80% of export earnings, and more than half of government operating revenues. Despite higher oil prices at the end of 2002 and into 2003, domestic political instability, culminating in a disastrous two-month national oil strike from December 2002 to February 2003, temporarily halted economic activity. The economy remained in depression in 2003, declining by 9.2% after an 8.9% fall in 2002. In late 2003, President CHAVEZ committed himself to $1 billion in new social programs, money the government does not have.

International Disputes: Claims all of the area west of the Essequibo River, preventing any discussion of a maritime boundary; Guyana has expressed its intention to join Barbados in asserting claims before UNCLOS that the Trinidad and Tobago's maritime boundary with Venezuela extends into their waters; maritime boundary dispute with Colombia in the Gulf of Venezuela and the Caribbean Sea; US, France and the Netherlands recognize Venezuela's claim to give full effect to Aves Island, which creates a Venezuelan EEZ/continental shelf extending over a large portion of the Caribbean Sea; Dominica, Saint Kitts and Nevis, Saint Lucia, and Saint Vincent and the Grenadines protest Venezuela's claim that Aves Island sustains human habitation and other states' recognition of it.