Eduardo Montealegre
Encyclopedia
Eduardo Montealegre is a Nicaragua
n politician. He ran for president in the 2006 general election
as the candidate of the Nicaraguan Liberal Alliance
(ALN-PC) a spin-off of the Constitutional Liberal Party
(PLC) in alliance with other liberal parties and the Conservative Party
. He finished in second place after Daniel Ortega
, receiving 28.3% of the vote.
Montealegre was born in Nicaragua's capital Managua
, from a rich capitalist family dedicated to bank business. He received an Sc. B in Economics from Brown University
in 1976 and an MBA with a focus in finance and strategic planning from Harvard University
in 1980. He later became a businessman in Nicaragua.
Montealegre served as minister to the presidency in 1998 under Arnoldo Alemán
. He also served as foreign minister
from 1999 to 2000 in the government of Arnoldo Alemán and as finance minister
from 2002 to 2003 in the government of the next President Enrique Bolaños
. Subsequently, he served as minister to the presidency of Enrique Bolaños. He announced his split from the PLC in protest of the control of the party by former President Alemán, who was imprisoned for misappropriation of funds. Montealegre objects to an alliance, referred to in the popular media as "El Pacto", between Arnoldo Alemán and Daniel Ortega
, who ran as the candidate of the FSLN in 2006 for the fourth consecutive time since his 1985-1990 presidency, this time successfully. Because of Montealegre's stand against corruption, Arnoldo Alemán, and Daniel Ortega's Sandinista National Liberation Front, the U.S. ambassador in Managua openly endorsed his candidacy.
A commission of Nicaragua's National Assembly
threatened to criminally charge Montealegre, as well as a former head of the central bank and the former superintendent of banks. They allege that they abused their positions to enrich themselves by illegally issuing US$400 million in bonds in favor of banks that acquired several failed banks. Montealegre dismisses the charges, stating that he was no longer employed by the government when the bonds were emitted.
Montealegre was granted a seat in the Nicaraguan congress after the 2006 general elections, since a seat in Congress is guaranteed to the candidate who comes in second in presidential elections.
After losing control of the leadership of the ALN, Montealegre agreed to run for mayor of Managua in the November 2008 municipal elections as candidate of the alliance led by his former party, the PLC still ruled by Arnoldo Aleman. Montealegre lost the election to Alexis Argüello
, but alleged that the election was rife with fraud. The municipal elections which were held in November 2008 were highly contested and were held without international observers due to the Sandinista government's reluctance to invite any observers. The supposed fraud of the municipal elections resulted in several days of protest mostly in but not limited to Managua
.
Nicaragua
Nicaragua is the largest country in the Central American American isthmus, bordered by Honduras to the north and Costa Rica to the south. The country is situated between 11 and 14 degrees north of the Equator in the Northern Hemisphere, which places it entirely within the tropics. The Pacific Ocean...
n politician. He ran for president in the 2006 general election
Nicaraguan general election, 2006
Nicaragua held a general election on 5 November 2006. The country's voters went to the polls to elect a new President of the Republic and 90 members of the National Assembly, all of whom will serve five-year terms...
as the candidate of the Nicaraguan Liberal Alliance
Nicaraguan Liberal Alliance
The Nicaraguan Liberal Alliance is a political party in Nicaragua. It was started in 2005 by Eduardo Montealegre and other members of the Constitutional Liberal Party who opposed former President of the country Arnoldo Alemán's continued control of the PLC even after he had been found guilty of...
(ALN-PC) a spin-off of the Constitutional Liberal Party
Constitutional Liberal Party
The Constitutionalist Liberal Party is an opposition political party in Nicaragua. At the legislative elections, held on 5 November 2006, the party won 25 of 92 seats in the National Assembly....
(PLC) in alliance with other liberal parties and the Conservative Party
Conservative Party of Nicaragua
The Conservative Party is a conservative political party in Nicaragua.The party's colour is green and its emblem is a torch of freedom in a circle. Its slogan is “Dios, Orden, Justicia” , often depicted on the three sides of a triangle.-History:The conservative party is the oldest currently...
. He finished in second place after Daniel Ortega
Daniel Ortega
José Daniel Ortega Saavedra is a Nicaraguan politician and revolutionary, currently serving as the 83rd President of Nicaragua, a position that he has held since 2007. He previously served as the 79th President, between 1985 and 1990, and for much of his life, has been a leader in the Sandinista...
, receiving 28.3% of the vote.
Montealegre was born in Nicaragua's capital Managua
Managua
Managua is the capital city of Nicaragua as well as the department and municipality by the same name. It is the largest city in Nicaragua in terms of population and geographic size. Located on the southwestern shore of Lake Xolotlán or Lake Managua, the city was declared the national capital in...
, from a rich capitalist family dedicated to bank business. He received an Sc. B in Economics from Brown University
Brown University
Brown University is a private, Ivy League university located in Providence, Rhode Island, United States. Founded in 1764 prior to American independence from the British Empire as the College in the English Colony of Rhode Island and Providence Plantations early in the reign of King George III ,...
in 1976 and an MBA with a focus in finance and strategic planning from Harvard University
Harvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
in 1980. He later became a businessman in Nicaragua.
Montealegre served as minister to the presidency in 1998 under Arnoldo Alemán
Arnoldo Alemán
José Arnoldo Alemán Lacayo was the 81st President of Nicaragua from 10 January 1997 to 10 January 2002.-Biography:Alemán was born in Managua and received his early education at the La Salle institute in Managua...
. He also served as foreign minister
Foreign minister
A Minister of Foreign Affairs, or foreign minister, is a cabinet minister who helps form the foreign policy of a sovereign state. The foreign minister is often regarded as the most senior ministerial position below that of the head of government . It is often granted to the deputy prime minister in...
from 1999 to 2000 in the government of Arnoldo Alemán and as finance minister
Finance minister
The finance minister is a cabinet position in a government.A minister of finance has many different jobs in a government. He or she helps form the government budget, stimulate the economy, and control finances...
from 2002 to 2003 in the government of the next President Enrique Bolaños
Enrique Bolaños
Enrique José Bolaños Geyer was the President of Nicaragua from 10 January 2002 to 10 January 2007. President Bolaños is of Spanish and German heritage and was born in Masaya ....
. Subsequently, he served as minister to the presidency of Enrique Bolaños. He announced his split from the PLC in protest of the control of the party by former President Alemán, who was imprisoned for misappropriation of funds. Montealegre objects to an alliance, referred to in the popular media as "El Pacto", between Arnoldo Alemán and Daniel Ortega
Daniel Ortega
José Daniel Ortega Saavedra is a Nicaraguan politician and revolutionary, currently serving as the 83rd President of Nicaragua, a position that he has held since 2007. He previously served as the 79th President, between 1985 and 1990, and for much of his life, has been a leader in the Sandinista...
, who ran as the candidate of the FSLN in 2006 for the fourth consecutive time since his 1985-1990 presidency, this time successfully. Because of Montealegre's stand against corruption, Arnoldo Alemán, and Daniel Ortega's Sandinista National Liberation Front, the U.S. ambassador in Managua openly endorsed his candidacy.
A commission of Nicaragua's National Assembly
National Assembly of Nicaragua
The National Assembly is the legislative branch of the government of Nicaragua.-Composition:The Nicaraguan legislature is a unicameral body....
threatened to criminally charge Montealegre, as well as a former head of the central bank and the former superintendent of banks. They allege that they abused their positions to enrich themselves by illegally issuing US$400 million in bonds in favor of banks that acquired several failed banks. Montealegre dismisses the charges, stating that he was no longer employed by the government when the bonds were emitted.
Montealegre was granted a seat in the Nicaraguan congress after the 2006 general elections, since a seat in Congress is guaranteed to the candidate who comes in second in presidential elections.
After losing control of the leadership of the ALN, Montealegre agreed to run for mayor of Managua in the November 2008 municipal elections as candidate of the alliance led by his former party, the PLC still ruled by Arnoldo Aleman. Montealegre lost the election to Alexis Argüello
Alexis Argüello
Alexis Argüello , also known by the stage name El Flaco Explosivo , was a Nicaraguan professional boxer and politician...
, but alleged that the election was rife with fraud. The municipal elections which were held in November 2008 were highly contested and were held without international observers due to the Sandinista government's reluctance to invite any observers. The supposed fraud of the municipal elections resulted in several days of protest mostly in but not limited to Managua
Managua
Managua is the capital city of Nicaragua as well as the department and municipality by the same name. It is the largest city in Nicaragua in terms of population and geographic size. Located on the southwestern shore of Lake Xolotlán or Lake Managua, the city was declared the national capital in...
.