A neighbour to Brazil, Colombia and Guyana, Venezuela has waited anxiously on news of Chavez’s health after he underwent several operations in the past 12 months.
Vice-President Nicolas Maduro will take power until a formal vote is held for the presidency.
Chavez’s 14 years in power saw Venezuela take an independent stand on many issues, creating distance between the nation and regional powerhouse USA.
Only today it was announced that two American diplomats had been exiled for spying on the country’s military.
However, the US has signalled its intent to use Chavez’s death to foster a more stable relationship with the region.
Internationally, Venezuela’s closest allies are Cuba, Bolivia, Ecuador and Argentina.
While travellers are being warned to avoid large gatherings in the country, Venezuelan officials have publically called for calm in the wake of Chavez’s death and has the military on standby to quell any uprisings.