Venezuela is a country located in northern South America, bordered by Colombia to the west, Brazil to the south, Guyana to the east, and the Caribbean Sea to the north. The capital and largest city is Caracas. Venezuela is known for its rich oil reserves, which have been a major contributor to the country's economy. However, in recent years, the country has experienced significant political and economic turmoil, with high inflation, shortages of basic goods, and political unrest. The economy of Venezuela is largely based on the export of oil, which accounts for over 90% of the country's export earnings. However, the country also has significant agriculture and manufacturing sectors. In recent years, the country has experienced a severe economic crisis, with hyperinflation and shortages of basic goods. Venezuela is a federal presidential constitutional republic, with the President serving as both the head of state and head of government. It has a multi-party system, but in recent years, the ruling party has been accused of undermining democratic institutions and suppressing political opposition. The country also faces significant challenges related to crime and violence, particularly in urban areas.
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