Former Marxist leader Daniel Ortega has won Nicaragua's presidential election, 16 years after being voted out of office.

Mr Ortega's victory continues a recent trend in Latin America which has seen left-wing leaders elected in Venezuela and Bolivia.

However, the President-elect has said he is no longer the radical he once was.

And he said he wanted to reassure private investors that they had nothing to fear from coming to Nicaragua.

The Bush administration actively campaigned against Mr Ortega's candidacy.

But former US President Jimmy Carter, who was in Nicaragua as an observer for the election campaign, said he has been told that Washington would respond favourably whoever won the election.