Venezuela's government and opposition parties have agreed to postpone presidential elections by a month, to be held in May.

President Nicolas Maduro plans to run for a second six-year term against a background of severe economic problems.

Critics accused the authorities of shifting the vote forward to wrong-foot the opposition in a bid to improve President Nicolas Maduro's re-election chances.

The leading opposition coalition is boycotting the poll describing it as a farce to legitimise a dictatorship. However, one presidential hopeful, Henri Falcon, has already launched his candidacy.

Al Jazeera's Teresa Bo reports.