The head of Burkina Faso's armed forces has announced the dissolution of the national assembly and the creation of a national transitional government to last a maximum of 12 months.
"A transitional body will be put in place in consultation with all parties," General Honore Traore told a news conference after a day of violent protests in the capital. He did not say who would lead the transitional body.
Burkina Faso's President Blaise Compaore said he was ready to discuss with the opposition a transitional government at the end of which he would then hand over power, following a day of violent.
"With regard to myself, I am available to open talks on a transitional period at the end of which I will hand over power," Mr Compaore said in a statement broadcast on BF1 TV.
He added that he was lifting the "state of siege" announced earlier in the day and withdrawing a proposed law to allow him to seek re-election next year.
Demonstrators stormed the country's parliament and ransacked state television in a surge of violence that forced the government to scrap a vote on allowing Mr Compaore to extend his 27-year rule.
One man was killed in the violence that erupted just before lawmakers were due to vote on the legislation that would allow Mr Compaore - who took power in a 1987 coup - to contest next year's election.
Most deputies had not yet arrived for the vote when protesters, who had set up barricades outside parliament from early in the morning, stormed the building.
The crowd surged forward after police fired warning shots in the air.
UN Secretary-General Ban Ki-moon dispatched a special envoy to Burkina Faso today to help end the violence.
The UN special envoy for West Africa, Mohamed Ibn Chambas, will be in Burkina Faso tomorrow as part of a joint peace mission with the African Union and the West African grouping ECOWAS.
Mr Ban is "following with great concern the deteriorating security situation in Burkina Faso," his spokesman Stephane Dujarric said.
The spokesman said the UN chief "calls on all parties to end the use of violence, exercise calm and restraint, and use dialogue to resolve all outstanding issues".
Mr Ban is "saddened over the loss of life resulting from recent events," said Mr Dujarric.
Kouame Lougue, a retired general whom tens of thousands of angry demonstrators called on to take power in Burkina Faso, met army chiefs this afternoon in the capital.
The popular former defence minister met Gen Traore and other high-ranking officers after the protests.
Opposition to Mr Compaore's plan has been mounting in recent days.
Hundreds of thousands of people took to the streets of Ouagadougou and other towns across the country on Tuesday in what the opposition said was the start of a campaign of civil disobedience over the proposed constitutional reform.
France has called on Mr Compaore to adhere to African Union rules preventing constitutional changes that allow leaders to stay in power.
The US government said it was concerned by the escalating situation in Burkina Faso.
