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A 73-year-old businessman who suffered expropriation and prison under the Sandinistas won Nicaragua's presidency over Daniel Ortega.

He vowed to continue working for national reconciliation, and for a free-market economy, from within the country's National Assembly, or congress.

With only 5.4 per cent of the vote counted by midday, Bolanos led Ortega 53 percent to 45.3 percent, according to the Supreme Electoral Council.

"We accept the mandate of the people and congratulate the Liberal ticket," Mr Ortega said in a concession speech.

"We are going to support the governability of the country from our strong position in opposition," he said.

True to his attempts to win better relations with the United States, Ortega did not mention the role the US government may have played in his defeat.

An enormous turnout overwhelmed an inefficient election bureaucracy. Some voters who had waited in line were still casting ballots at 11:30 pm, more than five hours after the scheduled closing of polls.

But the peacefulness of the election belied claims by outgoing President Arnoldo Aleman that Mr Ortega's supporters planned violence to disrupt the vote.

His campaign repeatedly reminded voters of the grim side of the Sandinista era from 1979 to 1990: long food lines, a muzzled press and coffins carrying the bodies of draftees in a war against US backed Contra rebels.

That apparently overcame Ortega's "path of love" campaign, which featured pink posters adorned with flowers in an attempt to reach out to non-Sandinista critics of Aleman's government.

Story filed: 20:20 Monday 5th November 2001

• Former president Ortega bids for power 08:49 Saturday 3rd November 2001
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