FORMER President Carlos Andres Perez, whose popularity soared with Venezuela’s oil-based economy but who later faced riots, a severe economic downturn and impeachment, has died in Miami, Florida, from a heart attack, aged 88.

President Hugo Chavez announced he would pull Venezuela out of the World Bank and the International Monetary Fund, a largely symbolic move because the nation has already paid off its debts to the lending institutions.

Venezuelan President Hugo Chavez extended his verbal war with Washington, likening US President George Bush to Hitler while saying he was considering buying enough rifles to arm one million Venezuelans ready to repel a possible US invasion.