Puntofijo Pact

The Puntofijo Pact was a 1958 power-sharing agreement between Venezuela's three main political parties, Acción Democrática, Copei, and Unión Republicana Democrática, aimed at preventing a return to authoritarian rule and promoting stability in the country. This pact established a system of rotating presidencies and ensured a balance of power among the parties. It played a significant role in shaping Venezuela's politics for several decades.