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Spanish poet wins Cervantes literature prize

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November 29, 2012 09:34 AM EST | AP

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MADRID — Spanish poet and essayist Jose Manuel Caballero Bonald has won the 2012 Cervantes Prize, the Spanish-speaking world's highest literary honor.

Education Minister Jose Ignacio Wert said Thursday the 86-year-old was chosen for the contribution his life-long work has made to enriching Spanish-language literature.

The (EURO)125,000 ($167,000) prize generally alternates between Spanish and Latin American writers. Last year, it went to Chilean poet Nicanor Parra.

First handed out in 1976, previous winners include Carlos Fuentes of Mexico, and Nobel prize winners Mario Vargas Llosa of Peru and Spain's late Camilo Jose Cela.