What is happening in Venezuela?

• Full name: Bolivarian Republic of Venezuela
  
• Population: 29 million (UN, 2010)
• Capital: Caracas
• Area: 881,050 sq km (340,561 sq miles)
• Major languages: Spanish, indigenous languages
• Major religion: Christianity
• Monetary unit: 1 bolivar = 100 centimos
• Main exports: Petroleum, bauxite and aluminium, steel, chemicals, agricultural products, basic manufactures

Venezuela is known for world’s largest proven oil deposits as well as huge quantities of coal, iron ore, bauxite and gold. But still, most Venezuelans live in poverty, many of them in shanty towns, some of which sprawl over the hillsides around the capital, Caracas. Venezuela’s president, Hugo Chavez is leading the country. Recently, there was some speculation about some political issues in Venezuela because of President Hugo Chavez’s health after cancer treatment, falling oil output that could slow economic recovery. Venezuela has presidential elections next year.

The 57-year-old socialist leader has completed four rounds of chemotherapy that he says were successful. It was recently stated that the medical tests have been positive, and that his doctors have not found any malignant cells. It has not been made public that what kind of Cancer, the president is suffering from.