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Correa wins Ecuador's election

QUITO, Ecuador, Nov. 28 (UPI) -- Leftist Ecuadorian presidential candidate Rafael Correa has officially won this week's election, an electoral official said Tuesday, El Comercio reports online.

The U.S.-educated economist Correa defeated conservative banana magnate Alvaro Noboa 57 percent to 43 percent, according to exit polls and election monitors.

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Noboa, however, has accused Correa of rigging the election and may ask for a recount.

Correa campaigned on a platform of renegotiating foreign oil contracts to increase state revenue for the social spending and has expressed opposition to a free trade agreement with the United States and has concerned investors with his plan to reduce foreign debt payments to free up more money for social spending.

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