By Alexandra Valencia
QUITO -Ecuadoreans voted in a presidential runoff on Sunday to decide whether to maintain the pro-market policies of the last four years or return to the socialism of the preceding decade as the Andean country seeks to revive its stagnant economy.
Left-wing economist Andres Arauz won the first round of the election in February, garnering almost 33% of the vote, on promises of generous cash handouts and a resumption of the socialist policies of his mentor, former President Rafael Correa.
Arauz's rival, banker and third-time presidential candidate Guillermo Lasso, is promising to create jobs through foreign investment and financial support for the agricultural sector. Lasso won just shy of 20% of the first-round ballots.
Pollsters say the results will hinge on a relatively high percentage of undecided voters.
"At the last minute I decided on Lasso, I think he is the only option," said Margarita Alvarado, 42, a manicurist voting at a school in Quito. "I don't want to go back to the arrogance, to the corruption, to the handouts of the past decade."
The elections council said the vote was proceeding without incident and that citizens were respecting social distancing measures meant to prevent the spread of the coronavirus.
Results are expected on Sunday night. The new president will take office on May 24.
The oil-exporting nation's economy was already weak due to low crude prices when the coronavirus outbreak started. The pandemic has pushed a third of the population into poverty and left half a million people unemployed.
President Lenin Moreno, who did not seek re-election, imposed painful austerity measures as part of a $6.5 billion financing agreement with the International Monetary Fund, but was unable to kick-start the economy.
Indigenous activist Yaku Perez, who narrowly lost out to Lasso for a slot in the runoff, is calling on supporters to spoil their ballots to protest what he called electoral fraud in the first round.
"I don't trust either of the candidates, they have both been corrupted by the usual political parties," said Mirella Parraga, 43, a homemaker, after voting null at a polling station in central Guayaquil, the country's biggest city.
"I don't want to give my vote to someone who will make the situation in this country worse."
Arauz, 36, has offered to give $1,000 to a million families as soon as he takes office, as well as provide benefits to young people such as free internet access.
His plans are being closely watched by foreign investors who hold Ecuadorean bonds, some of whom have expressed concerns about heavy spending plans in the face of the government's delicate finances.
Lasso has tried to soften his conservative image by promising to fight discrimination on the basis of sexual orientation and boost protection of animal rights.
Both candidates are calling on supporters to "take care of the votes" and denounce irregularities on voting day and during the vote tallying process.
(Reporting by Alexandra Valencia; Additional reporting by Yury Garcia; Writing by Brian Ellsworth; Editing by Paul Simao and Daniel Wallis)