Chavez won a referendum to amend the constitution by eliminating limits on consecutive presidential terms paving his way to run again in 2012. The second quarter of 2009 reported the first negative economic growth rate of last 22 months and GDP growth ate was annualized at -2.3%. To counter the shocks of international financial crisis，Caracas adopted a number of measures to adjust the country’s economy. Public budget was retrenched while social expenditure remained constant. The Social Missions （Misiones Sociales） program went on to better the country’s social development. Pushed by Venezuela，the ALBA made new progresses and BancoSur took shape. In 2009，Venezuela’s bilateral ties with Russia and Iran were reinforced while its relations with the US were restricted by a few unfavorable factors.