Horacio Cartes elected Paraguay leader

ASUNCION (AFP) - Millionaire businessman Horacio Cartes has won the race to become Paraguay's new president, electoral officials said on Sunday.

Mr Cartes took 45.91 percent of the votes, compared to 36.84 percent for Mr Efrain Alegre of the ruling Liberal Party, who has conceded defeat, Electoral Board chief Alberto Ramirez said.