goods with locally produced goods. The government strategy include tax exceptions to attract capital investment and terrains at low cost to facilitate foreign suppliers to build plants for the assembly or packaging of finished products, closing the economy to trade through excessive tax to similar imported goods, import quotas to reduce foreign competition or other quantitative restrictions that prohibited imports. In addition, the Central Bank overestimated the Bolivar to cut down prices of imported inputs and promote export-oriented growth. Large road-building, and electrical power programs as the construction of Guri Dam Phase I were carried out, transforming Venezuela into a modernized Latin American nation. Agrarian reform AD's land reform distributed unproductive private properties and public lands to halt the decline in agricultural production. Landowners who had their properties confiscated received generous compensation. FALN guerrilla group Betancourt also faced determined opposition from extremists and rebellious army units, yet he continued to push for economic and educational reform. A fraction split from the AD and formed the Revolutionary Left Movement (MIR). When leftists were involved in unsuccessful revolts at Barcelona (El Barcelonazo) in 1961 and in navy bases in 1962 (El Carupanazo, Carúpano, and El Porteñazo, Puerto Cabello), Betancourt suspended civil liberties. Elements of the left parties then formed the Armed Forces for National Liberation (FALN), a communist guerrilla army to fight him. This drove the leftists underground, where they engaged in rural and urban guerrilla activities, including sabotaging oil pipelines, bombing a Sears Roebuck warehouse, Alfredo Di Stefano kidnapping, and bombing the United States Embassy in Caracas. FALN failed to rally the rural poor and to disrupt the December 1963 elections. After numerous attacks, he finally arrested the MIR and Communist Party of Venezuela (PCV) members of Congress. It became clear that a leftist Fidel Castro had been arming the rebels, so Venezuela protested to the Organization of American States (OAS). Assassination attempt Betancourt had denounced the dictatorship of the Dominican Republic's Rafael Trujillo. In turn, Trujillo had developed an obsessive personal hatred of Betancourt and supported many plots by Venezuelan exiles to overthrow him. The Venezuelan government took its case against Trujillo to the Organization of American States, turning to diplomacy first over armed response to resolve the political conflict. That, in turn, infuriated Trujillo, who ordered his foreign agents to assassinate Betancourt in Caracas. The 24 June 1960 attempt, in which the Venezuelan president was badly burned, inflamed world