Venezuela, officially known as the Bolivarian Republic of Venezuela, operates under a federal presidential constitutional republic. The President of Venezuela is both the head of state and the head of government, responsible for the executive branch of the government, while the legislative power is vested in the National Assembly. Judicial power lies with the Supreme Tribunal of Justice. The president is elected by popular vote and serves a six-year term.

Venezuela’s political landscape was characterized by deep polarization and ongoing crisis. Two political forces have been in contention: the United Socialist Party of Venezuela, founded by Hugo Chávez and led by Nicolás Maduro, and the opposition, most notably represented by the Democratic Unity Roundtable. There have been significant disputes over the legitimacy of recent elections, leading to a situation where both Nicolás Maduro and Juan Guaidó claimed the presidency. The crisis has been exacerbated by severe economic contraction, hyperinflation, and widespread shortages of basic goods.

Despite rich natural resources, including the largest proven oil reserves in the world, Venezuela faces numerous socio-economic challenges. In the face of ongoing political instability, economic difficulties, and social unrest, millions of Venezuelans have left the country in recent years, leading to a significant refugee crisis in the region. International sanctions, primarily from the United States, in response to human rights abuses and political corruption have further strained Venezuela’s troubled economy.