News

Opposition ends Socialist's rule in Venezuela

by IBNS 07 Dec 2015, 07:42 pm

Caracas, Dec 8 (IBNS) Just weeks after Argentina was rid of its long sustaining Left politics, another South American country suffered the same as the people of Venezuela decidedly ditched the Socialist party, marking the end of a 17-year old regime of theirs, in the recently concluded national elections.

The Socialist movement, popularly known as Chavismo, started soon after Hugo Chavez took office in 1999, but suffered a setback after his death and reached an all time low with the election results.

The preceding United Social Party of Venezuela (PSUV) won just 46 seats as compared to 99 by the Democratic Unity Roundtable (MUD).

Though his party lost, Venezuelan President Nicolas Maduro said that he will not give up his hopes of turning Venezuela into a Socialist nation.