Luis Herrera Campins

Luis Antonio Herrera Campins was a significant political leader in Venezuela.

He served as the president of the nation from 1979 to 1984. Herrera was a member of COPEI, which is a Christian Democratic party. He was elected to a single five-year term during the December 1978 presidential elections. In that election, he received 2,469,042 votes. This victory allowed him to replace Carlos Andrés Pérez. Pérez was a leader from the Democratic Action party. He had previously nationalized the oil industry during a period of economic boom in 1975.

Before his presidency, Herrera faced many personal and political challenges. He was born in Acarigua, Portuguesa, in 1925. He began studying law at the Central University of Venezuela. However, his education was interrupted by political conflict. He was imprisoned during the regime of the dictator Marcos Pérez Jiménez. This happened because Herrera organized a strike against the dictator. He eventually lived in exile in Spain and Germany. He completed his law degree in 1955 from the Universidad de Santiago de Compostela in Spain. He later served in the National Congress from 1959 until 1979.

As president, Herrera followed a dirigiste economic model. This term describes a system where the government takes a leading role in the economy. He used public funds to support various agricultural and industrial projects. His administration also provided generous subsidies to citizens. The government also controlled the prices of many different goods. Herrera continued a policy of borrowing money on the world market. This market was filled with petrodollars, which is money earned from oil sales. By the early 1980s, Venezuela owed international banks more than $20 billion. The government believed that high oil prices would last forever.

Herrera also focused on the cultural and educational life of Venezuela. He implemented several education reforms during his term. He also supported cultural development programs. One major project was the construction of the elaborate Teresa Carreño Theater. While he worked on these projects, the economy began to change. Herrera implemented policies to liberalize prices. This led to rapid changes in the value of the Venezuelan bolívar, which is the national currency. These economic shifts were part of a larger period of instability for the country.

In foreign policy, Herrera used a muscular approach to international relations. He often acted based on territorial claims. In 1980, he signed an agreement with Mexico. This deal helped both nations provide a steady flow of oil to Central American and Caribbean countries. In 1982, Herrera sided with Argentina during its war with the United Kingdom over the Falkland Islands, also known as the Islas Malvinas. He used this stance to boost his popularity by tapping into anti-British and anti-American sentiments. He also asserted a claim to more than half of neighboring Guyana. This area was a former British colony.

His presidency also saw important developments in the energy sector. In December 1982, the state oil company PDVSA signed a cooperation agreement. They worked with a German oil company named VEBA. This agreement created a joint venture called Ruhr Oel GmbH. This specific event is seen as the beginning of the internationalization of PDVSA. This means the company began to expand its operations and partnerships across the globe. Herrera also recognized the Sahrawi Arab Democratic Republic as a sovereign state in Western Sahara.

By the end of his term, the Venezuelan economy entered a meltdown. The high levels of debt and changing oil markets caused great hardship. Poverty became widespread across the nation. Because of these difficult conditions, voters turned against the Christian Democrats. In the elections of December 1983, the party was ejected from office. Herrera's term officially ended in 1984, and he was succeeded by Jaime Lusinchi. The economic crisis during this time had a lasting impact on the country's political landscape.

After leaving the presidency, Herrera remained an important figure in COPEI. He served as the president of the party in 1995. He lived a relatively quiet life after retiring from politics. In 2001, he made news when gunmen stole his car. Following this event, he was sometimes seen walking and carrying his own groceries in old clothes. Herrera suffered from health issues, including an abdominal aneurysm and a kidney infection. He died in Caracas on November 9, 2007, at the age of 82. He had been suffering from Alzheimer's disease at the time of his death.