No Chavez referendum - Venezuelan Supreme Court postpones a nationwide referendum that may have ousted its president.

money.cnn.com January 22, 2003: 7:42 PM EST

CARACAS, Venezuela (Reuters) - Venezuela's Supreme Court on Wednesday dashed opposition hopes of testing leftist President Hugo Chavez in a national vote next month by suspending a planned nonbinding referendum on his rule.

Although Chavez was not obliged to abide by the Feb. 2 referendum, his foes had hoped to use it to try to inflict a political defeat on the leftist leader, who is battling a seven-week-old opposition strike in the world's fifth-largest oil exporter.

The shutdown, aimed at forcing Chavez to resign or call early elections, has slashed the country's vital oil exports and pushed the economy deeper into recession.

In its ruling, the Supreme Court accepted a formal government appeal and ordered the National Electoral Council to suspend the February referendum and refrain from organizing other elections for the moment.

"This means that the referendum is frozen," council member Romulo Rangel told reporters.

The government hailed the court ruling. "We always refused to recognize (the Feb. 2 referendum), but now the Supreme Court has confirmed our position," Vice President Jose Vicente Rangel said.

Opposition leaders condemned it as a biased political decision and accused Chavez of deliberately blocking their campaign for early elections on his rule.

"It's unacceptable. It's a blow to the hopes of millions of Venezuelans who are expecting an electoral solution to the crisis," opposition negotiator Rafael Alfonzo told reporters.

Supporters of Chavez, elected in 1998 six years after leading a coup attempt, planned a big show of strength in the capital on Thursday in rallies billed by the government as "the taking of Caracas."

Fearing a repeat of violent clashes that have killed at least six people and wounded dozens since the strike began on Dec. 2, opposition leaders urged their followers to stay home. But opposition marches would be held in other cities.