Simón Bolívar has left a long lasting imprint on Venezuela's history in particular and South America in general. As a military cadet, Hugo Chávez was "a celebrant of the Bolivarian passion story". Chávez relied upon the ideas of Bolívar and on Bolívar as a popular symbol later in his military career as he put together his MBR-200 movement which would become a vehicle for his 1992 coup-attempt.
Chávez began preparing for a military coup d'état known as Operation Zamora. The plan involved members of the military overwhelming military locations and communication installations and then establishing Rafael Caldera in power once Pérez was captured and assassinated. Chávez delayed the MBR-200 coup, initially planned for December, until the early twilight hours of 4 February 1992. On that date five army units under Chávez's command moved into urban Caracas. Despite years of planning, the coup quickly encountered trouble since Chávez commanded the loyalty of less than 10% of Venezuela's military. After numerous betrayals, defections, errors, and other unforeseen circumstances, Chávez and a small group of rebels found themselves hiding in the Military Museum, unable to communicate with other members of their team. Pérez managed to escape Miraflores Palace.Then Chávez gave himself up to the government. Fourteen soldiers were killed, and fifty soldiers and some eighty civilians injured during the ensuing violence.
The new constitution entered into force on 12 February 1992. In addition to establishing Mongolia as an independent, sovereign republic and guaranteeing a number of rights and freedoms, the new constitution restructured the legislative branch of government, creating a unicameral legislature, the State Great Khural (SGK).
The Bosnian Serb assembly members advised Serbs to boycott the referendums held on 29 February and 1 March 1992. The turnout to the referendums was reported as 63.7%, with 92.7% of voters voting in favour of independence (implying that Bosnian Serbs, which made up approximately 34% of the population, largely boycotted the referendum).