U.S., Brazil Fail to Broker Venezuelan Referendum Agreement

Caracas, May 9 (<a href=quote.bloomberg.com>Bloomberg) -- The U.S., Brazil and Spain ended meetings between Venezuela's government and opposition without reaching agreement to hold a referendum on President Hugo Chavez's rule.

Representatives of the Group of Friends, as the negotiators from six countries that also include Portugal, Mexico and Chile are known, ended two days of talks with each side.

``The group urges the two sides to make maximum and urgent efforts to overcome their differences,'' Brazilian diplomat Gilberto Saboia read from a statement.

The group is counting on a referendum to end more than a year of political strife in Venezuela, South America's largest oil producer. Chavez, who was deposed in April 2002 for two days in a failed coup attempt, has faced repeated demands that he step down or submit to a referendum.

The two sides reached a tentative agreement brokered by the Organization of American States to hold a referendum. Chavez later rejected the pact.

Polls show that Chavez would lose by a large majority if a referendum were held. Under Venezuela's constitution, a referendum can be held any time after Aug. 19, when Chavez passes the mid- point of his six-year term in office.

Last Updated: May 9, 2003 13:26 EDT