Monday, February 18, 2002 the most high-ranking military officer to date joined the growing voices of opposition asking for the resignation of Venezuelan President, Hugo Chávez. The disapproval is coming at a time when Chávez is dealing with increasing economic pressures within the country. Chávez decided to abandon a fixed exchange rate last week and let the Bolivar float against the U.S. dollar, which led to the central bank’s expenditure of about $410 million to fend off a major devaluation. The economic woes together with Chávez’ uncompromising style of governance - that has increasingly aligned itself with left-leaning countries such as Cuba - has led to an increasing opposition from many sectors within Venezuela. The military’s growing lack of confidence and subsequent condemnation could be seen as a more direct threat to Chávez’ power.

News Stories:

"Contralmirante Molina Tamayo pide renuncia de Chávez,"
El Universal (Caracas), February 18, 2002

"Rangel: Declaraciones de Molina Tamayo sólo tendrán impacto mediático,"
El Universal (Caracas), February 18, 2002

"Venezuelans march against president,"
BBC News, February 8, 2002