Venezuela's President Nicolas Maduro has publicly reiterated that the Latin American nation's electoral system has overcome the incidents of fraud that marred elections during the 1980s and 1990s. 

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Maduro on Friday acknowledged that Venezuela's electoral system was riddled with shortcomings in the 1980s and 1990s, when voting was conducted manually.

Speaking at a meeting of international election monitors at Miraflores Palace in Caracas, Maduro said the advent of the Bolivarian Revolution brought with it profound structural change in Venezuela's electoral system.

After Hugo Chavez ascended to the presidency in 1999, a highly advanced technological voting system was put in place – along with the necessary guarantees – in order to reduce the potential for irregularities to almost zero. 

Maduro said the automated system includes biometric voting machines which are activated by fingerprint, and stressed the global importance of the May 20 presidential elections.

"Venezuela has become the focus and the elections in a world election," the president said. "I will accept the results, whatever they are."