Venezuela ranks 113th on the Human Development Index and is considered to be a developing country. It is known for having the largest oil reserves in the world, therefore being one of the world’s leaders in exporting that oil. The country has had its difficult moments, as it struggles with hyperinflation, shortage of basic goods, unemployment, and so on. Venezuela is a member of the UN, OAS, ALBA, UNASUR, LAIA, OEI, and Mercosur.
As for the political structure, Venezuela is a federal presidential republic that consists of 23 states. The president of the country is elected by a vote and has the titles of a head of state and head of government. The term is six years, and a president can be re-elected unlimited times.