Ecuador to choose between socialism and free markets in presidential runoff

By Alexandra Valencia QUITO (Reuters) - Ecuadoreans on Sunday will choose between a conservative banker and a left-wing economist in a presidential runoff that follows months of debate over whether the country's economic malaise can be best treated through socialism or market-friendly policies. Polls broadly indicate socialist Andres Arauz, a protege of former President Rafael Correa, with a lead over rival Guillermo Lasso, with many showing a quarter or more of the electorate either undecided or planning to spoil their ballot.

Reuters April 09, 2021 04:11:19 IST
Ecuador to choose between socialism and free markets in presidential runoff

Ecuador to choose between socialism and free markets in presidential runoff

By Alexandra Valencia

QUITO (Reuters) - Ecuadoreans on Sunday will choose between a conservative banker and a left-wing economist in a presidential runoff that follows months of debate over whether the country's economic malaise can be best treated through socialism or market-friendly policies.

Polls broadly indicate socialist Andres Arauz, a protege of former President Rafael Correa, with a lead over rival Guillermo Lasso, with many showing a quarter or more of the electorate either undecided or planning to spoil their ballot.

A victory for Arauz would further consolidate a string of leftist electoral victories in South America in the last year, while a win for Lasso would leave Ecuador in the political and commercial orbit of the United States as he seeks to create jobs through foreign investment.

Investors are closely watching the outcome because Arauz has promised to renegotiate the terms of a financing deal with the International Monetary Fund and to vastly expand social welfare spending despite precarious state finances.

"The hope of all Ecuadorians is to move the country forward, but we have doubts about who should govern and what plans you have to apply to get it," said Javier Guevara, a 25-year-old student in the city of Guayaquil, who remains undecided.

"I'm afraid to choose the wrong candidate and have their plans sink us further."

Arauz, 36, won the first electoral round with the 32.7% of the vote thanks to promises to reverse austerity measures and deliver $1,000 to a million poor families - a promise he has downplayed during the runoff vote.

Lasso maintains a pro-market platform.

Since the first round, Lasso has sought to soften his conservative image by offering to combat discrimination based on sexual orientation and even to support a referendum halting oil exploration in the ecologically sensitive Yasuni rainforest.

Indigenous candidate Yaku Perez, who narrowly lost a spot in the runoff, has denounced voter fraud and is calling on supporters to spoil their ballots.

President Lenin Moreno, a former Correa ally, is not seeking a second term. The new president will take office on May 24 for a period of four years.

Low oil prices and the coronavirus pandemic have left a third of the population in poverty and some 500,000 workers without stable employment.

Moreno enacted spending cuts and painful austerity measures in conjunction with a $6.5 billion IMF financing deal, but was unable to revive the economy.

"The key factor will be the candidates' proposals and how they have presented themselves to capture the undecided and null votes," said Blasco Peñaherrera of pollster Market.

Just over 13 million Ecuadoreans registered to participate in the election, which will include biosecurity measures in response to the pandemic.

(Reporting by Alexandra Valencia, writing by Brian Ellsworth; editing by Diane Craft)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

also read

Venezuela and Colombia rights groups ask for U.N. envoy amid border violence
World

Venezuela and Colombia rights groups ask for U.N. envoy amid border violence

CARACAS (Reuters) - Human rights groups from Venezuela and Colombia on Wednesday called on the United Nations to appoint a special envoy to address the humanitarian crisis caused by clashes between Venezuelan troops and Colombian armed groups near the countries' border. Colombian officials estimate that some 4,000 people have fled Venezuela for Colombia since March 21 following a military offensive in Venezuela's Apure state.

Jailed Kremlin critic Navalny goes on hunger strike over lack of medical care
World

Jailed Kremlin critic Navalny goes on hunger strike over lack of medical care

By Anton Zverev and Andrew Osborn MOSCOW (Reuters) - Jailed Kremlin critic Alexei Navalny went on hunger strike on Wednesday in an attempt to force the prison holding him outside Moscow to provide him with proper medical care for what he said was acute pain in his back and legs. The fate of Navalny, one of President Vladimir Putin's most prominent critics, is in focus after he said last week that being woken up by a guard every hour during the night amounted to torture and that his appeals for medical treatment had been ignored. In a handwritten letter addressed to the governor of his prison which was posted to social media by his team on Wednesday, Navalny said daily requests for a doctor of his choice to examine him and for proper medicine had been ignored

Gbabgo could return to Ivory Coast after ICC upholds acquittal
World

Gbabgo could return to Ivory Coast after ICC upholds acquittal

By Stephanie van den Berg THE HAGUE (Reuters) - The International Criminal Court on Wednesday upheld its 2019 acquittal of former Ivory Coast President Laurent Gbagbo on charges of crimes against humanity during post-election violence and ordered all conditions of his release be removed. The decision may open the way for Gbagbo, 75, who has been living in Belgium, to return to Ivory Coast