Luís Herrera Campíns

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Luís Herrera Campíns

Luís Herrera Campíns (born May 4, 1925 in Acarigua , ( Portuguesa ); † November 9, 2007 in Caracas ) was President of Venezuela from 1979 to 1984 . He was a member of the Christian Democratic Party COPEI .

Oil "crisis"

The oil producer Venezuela experienced the second oil crisis triggered by the Iran-Iraq war during Campíns' tenure as a gold rush; the oil prices tripled. Nevertheless, the government could not get the foreign debt under control, also because the oil price collapsed again from 1983 onwards.

The economy had stagnated since 1979 and slipped into recession shortly afterwards. On February 18, 1983, the bolívar was devalued (the old rate of 4.3 bolívar per dollar was replaced by a multiple exchange rate system), a massive flight of capital began, and Venezuela's external debt rose to $ 30 billion in early 1983.

See also

Web links

Commons : Luís Herrera Campíns  - album with pictures, videos and audio files