President Hugo Chavez says that his country might some day host economic refugees if the US economy worsens and goes beyond control.

"Look at the crisis that the United States is regrettably going into. We don't wish a crisis upon anybody, a terrible economic crisis," AP quoted Chavez as saying on Friday.

"Hundreds of thousands of families are being left in the street. I think if things continue on like this in the United States, we'll have to start preparing to receive the refugees here," he added.

The US remains the leading buyer of Venezuelan oil, but the two countries are at odds over war in Iraq as well as the country's definition on terrorism.

The US State Department has claimed that Venezuela does not fully cooperate in anti-terrorism efforts.

MSM/PA