News

Venezuelan President Hugo Chavez has told opposition leaders that he will relinquish power if he loses elections due in October.

In his annual address to Congress, Mr Chavez said the opposition should also accept the result if he wins.

The left-wing leader - who has governed Venezuela for 13 years - is seeking another six-year term in office.

The opposition coalition will hold a primary election next month to choose a unity candidate to stand against him.

Some of Mr Chavez's strongest critics have suggested he might cling on to power at all costs if he were defeated at the polls.

But he told the National Assembly in Caracas that he would accept the election result whatever it was.