Updated

Negotiations between Venezuela's government and opposition are hanging by a thread after they failed to reach an agreement to hold presidential elections.

Talks have been taking place for weeks and expectations of a breakthrough were high when they resumed Tuesday in the Dominican Republic.

But the frustrated head of the opposition's delegation Julio Borges said after talks concluded without a deal that he won't sign any agreement that puts Venezuela's democracy at risk.

Chief government negotiator Jorge Rodriguez suggested that time for a deal to resolve Venezuela's long-running political gridlock is running up. Speaking to journalists, he signed a draft that the government is calling the "final" accord and called on Venezuelans to prepare for presidential elections with or without the opposition.