Venezuela's President Hugo Chávez will arrive in Nicaragua "in the next few days" to sign agreements with his counterpart Daniel Ortega, an official source in Managua reported on Friday.

Antonio Contreras, the Venezuelan Vice President of the food joint venture Alba Alimentos de Nicaragua (Albalinisa), confirmed the rumors about the visit of the Venezuelan leader, but he did not specify the day of his arrival in the Central American country.

President Chávez "will visit Nicaragua in the next few days to sign several bilateral agreements," the official told the local TV station Channel 23.

Local media had speculated about a possible visit of President Chávez this weekend to attend the inauguration ceremony of Avenue Augusto C. Sandino, in former downtown Managua, DPA reported.