THE revolutionary dreams of Hugo Chavez, president of Venezuela, are facing a setback in two Latin American elections where voters are poised to reject the candidates who have embraced the anti-American nationalism espoused by the strongman of Caracas.

President Alvaro Uribe of Colombia is coasting to re-election today despite criticism by Chavez of his co-operation with the United States in fighting drug trafficking and paramilitary groups.

In Peru, Chavez’s outspoken support for Ollanta Humala, an ultra-nationalist former army officer, appears to have backfired. Humala’s moderate leftist opponent Alan Garcia, the former president, has capitalised on irritation with Chavez’s “interference” to move 12 points ahead in the latest opinion poll before next Sunday’s presidential vote.

The polls in both countries are being seen in Washington as reassuring evidence that Chavez’s plans for a so-called “Bolivarian” revolution — named after Simon Bolivar, the Latin American scourge of colonialism — are unlikely to expand beyond his alliances with Cuba and Bolivia.

Colombian voters have shown little interest in leftists who admire Chavez’s populist policies and Uribe is expected to win more than 50% of the vote, avoiding a second round run-off.

In Peru, Garcia has made no secret of his disdain for Chavez, whom he has accused of “petro-imperialism” — using Venezuela’s oil wealth to wield undue influence over poorer countries.

The two men traded insults this month when Garcia called Chavez “borderline crazy” and Chavez retorted by calling Garcia “corrupt” and “a thief” — an apparent reference to his first term of office which was scarred by allegations of corruption.

Many Peruvians who remember the economic chaos of Garcia’s first term from 1985-90 had sworn not to support his return. But compared with Humala, who wants to nationalise “strategic” economic sectors to benefit the poor, Garcia appeared a model of reason.

Chavez may in any case be obliged to concentrate on problems at home. Despite bumper revenues from high oil prices, Venezuela’s central bank said last week that it had lost $142m (£76m) in the first four months of this year, largely because Chavez’s administration had overspent.

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