Montealegre Concedes Defeat In Nicaragua

Nicaraguan conservative presidential candidate Eduardo Montealegre has conceded defeat in Sunday’s elections, confirming the win by Sandinista leader Daniel Ortega. With almost all the votes now counted, Ortega won 38% of ballots cast against 29% for Montealegre. Meanwhile, Ortega has said he is in favor of constitutional reforms that will see presidential powers reduced. “There will be no dramatic or radical changes to the economic foundations that have been laid over these years”, the former Marxist guerrilla said on a visit with outgoing president Enrique Bolaños, according to Nicaraguan daily La Prensa.