Bolivian president Evo Morales said on Sunday he would call for new elections after the Organization of American States (OAS) released a report saying that a disputed Oct. 20 vote should be annulled due to irregularities.
The long-standing leader of the South American nation also said he would replace the members of the electoral board, which has come under fire after the election, which had been won by Morales, was mired in widespread allegations of electoral fraud.
The Organization of American States (OAS), which monitored the elections, called for the result to be annulled.
Mr Morales' announcement comes after weeks of anti-government protests over reported irregularities and fraud.
The president, who was first elected in 2006, has denied any wrongdoing and ignored calls to resign.
In his announcement on Sunday, he also said the country's electoral body would be overhauled before the poll, with parliament choosing its members.
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Mr Morales, who is Bolivia's first indigenous president, told reporters that he made the decision "to reduce all tension".
"We all have an obligation to pacify Bolivia," he said.
In its preliminary report on Saturday, the OAS said it had found "clear manipulations" of Bolivia's voting system and it could not verify the result of the 20 October race.