Puntofijo Pact
1958 power-sharing arrangement between Venezuela's three main political parties / From Wikipedia, the free encyclopedia
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The Puntofijo Pact (or Punto Fijo Pact) was a formal arrangement arrived at between representatives of Venezuela's three main political parties in 1958, Acción Democrática (AD), COPEI (Social Christian Party), and Unión Republicana Democrática (URD), for the acceptance of the 1958 presidential elections and the preservation of the new democratic system. The pact was a written guarantee that the signing parties would respect the election results, prevent single-party hegemony, share power, and collaborate to prevent dictatorship.[1]
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Signed | 31 October 1958 |
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Location | Puntofijo Residence, Francisco Solano López Avenue, Sabana Grande, Caracas, Venezuela |
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Punto Fijo Pact at Wikisource |
The Puntofijo pact is often credited with launching Venezuela towards democracy, being recognized for creating the most stable period in the republican history of Venezuela.[2][3] While it provided the grounds for possible democratic deepening, it has also been criticized for enabling an inflexible two-party system between AD and COPEI.[4]