Venezuelan President Hugo Chavez said on Tuesday he would leave office when his current term ends if voters reject a proposal that would allow him to run for re-election indefinitely.

Venezuela's National Assembly, controlled by Chavez supporters, last week approved holding a referendum on amending the constitution to allow indefinite presidential re-elections. Voters are likely to cast ballots on the issue in mid-February.

"In the supposed case that we would lose" the referendum, Chavez said in statements broadcast on Venezuelan television, "I would begin to pack my bags, count my remaining months and years, and work intensely to prepare for ... whoever comes after me."