Venezuela hit the big economic crisis and left a huge debt to IMF. The fifth larger oil producer in the world cannot safe Venezuela from the crisis. Privatization, and poorly manage of the oil industry under Carlos Andres Perez made the society suffering through the economy. Reduce oil dependency brought the country to deal with IMF loans to support the economic transformation ended with the prescription which claimed sustained the economy. Washington Consensus was interpreted as the development plans indicate neo-liberalism, emphasized the free market and reduce the state intervention precisely new dependency on IMF. Through the crisis, Hugo Chavez tends to defended people for regardless from the suffering. Chavez offered socialism as the resolution to solve the crisis through the Bolivarian Revolution, the spirit of Simon Bolivar.