Punto Fijo Pact

The Punto Fijo Pact was an agreement signed in 1958 by major political parties in Venezuela to ensure stability and peaceful power transitions after a period of turmoil. It committed parties to respect election results, share power, and work together in governance to prevent conflicts or coups. This consensus helped maintain political order for several decades, allowing the country to develop economically, but also limited political competition. Over time, critics argued it suppressedalternative voices and contributed to political stagnation. The pact was crucial in shaping Venezuela's modern political landscape during the late 20th century.