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Article: Americas: Nicaragua - Vote Of Confidence - Nicaragua's Apparently Reformed Ex-Marxist President Is Enjoying Some Success Courting Private Business And International Lenders In His Quest To Combat Poverty. Local Banks Are Also Doing Well. Jane Monahan Repo.
- Article from:
- The Banker
- Article date:
- July 1, 2007
- Author:
CopyrightCOPYRIGHT 2007 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: JANE MONAHAN
Daniel Ortega, the leader of Nicaragua's Sandinista party (Frente Sandinista de Liberacion Nacional) won 38% of the vote in November 2006's elections and reassumed the presidency this January in a remarkable political comeback, after three consecutive electoral defeats.
When he was in power for the first time, from 1979 to 1990, Mr Ortega, now 61, presided over a revolutionary Marxist government, fought a protracted war against US-backed Contra rebels (that left the economy in chaos) and was Washington's most despised leader in the region.
But despite fears that his re-election would frighten off investors and result in ...