Retiring president's hand-picked candidate leading Ecuador election

The hand-picked candidate of socialist President Rafael Correa was headed to victory in the opening round of Ecuador's presidential election Sunday, though he looked increasingly unlikely to avoid a runoff against his nearest rival.

With more than 77 per cent of polling stations reporting, ruling party candidate Lenin Moreno had almost 39 per cent of the votes, compared to just under 29 per cent for former banker Guillermo Lasso, the closest contender among seven opposition candidates.

To avoid a runoff, Moreno needed to win a majority of the total vote, or get 40 per cent while holding a 10-point lead over his nearest rival.

• From 2013Ecuador President Rafael Correa cruises to re-election

Even before the first vote results, Moreno was quick to declare himself the winner based on inconclusive exit polls and called on Lasso to recognize defeat. He later softened his stance while addressing supporters late in the night, but still said that as results came in from from consulates overseas and western Manabi province where the government spent heavily to rebuild from last year's 7.8 magnitude earthquake he was confident he would cross the required threshold.

"I have faith we'll reach 40 per cent," he said before breaking into song.

The outcome will be watched closely in Latin America, where conservative leaders in Argentina, Brazil and Peru have assumed power in the past 18 months after the end of a commodities boom that boosted leftists like Correa.

Outside the region, much of the interest in the election focuses on what the outcome will mean for WikiLeaks founder Julian Assange and his ability to remain at the Ecuadorean embassy in London.

Morenohas indicated he would back Assange's continued stay. But Lassohas indicated in interviews that he would evict the Australian activist within 30 days of taking office.

Polls show majority favour change

President Correawas among the early voters when polling places opened without incident Sunday morning.

The contest puts Correa's legacy on the line as well. The self-declared 21st century socialist who took office in 2007 ushered in a period of stability after a severe economic crisis that saw three presidents toppled in protests and the adoption of the U.S. dollar to control rampant inflation.

While Correa has been praised for reducing inequality and overhauling the nation's infrastructure, polls show a majority of Ecuadoreans favour change.

Formerly flush government budgets have been slashed and thousands of people at state-run companies laid off as oil revenues in the OPEC nation decline. The International Monetary Fund expects Ecuador's economy to shrink 2.7 per cent this year, and analysts predict that the next president will have to seek a bailout from the Washington-based lender to help with financial problems made worse by last year's 7.8 magnitude earthquake.

• Ecuador to hike taxes, sell assets to fund quake rebuilding
• Ecuador announces economic measures to deal with quake devastation

Moreno has pressed voters to uphold the president's "Citizens' Revolution," while his challengers vow to eliminate taxes they contend hampers growth and strengthen democratic institutions they say were weakened by Correa's leadership.

Recent polls show Moreno winning 28-32 per cent of the votes. He is trailed by Lasso, who lost to Correa in 2013 and is polling with 22 per cent.But a third of voters until recently were undecided amid low-energy campaigning as the charismatic Correa prepares to retire from politics.

Also seeking the presidency is Cynthia Viteri, a conservative ex-congresswoman, and Paco Moncayo, the former mayor of the capital Quito.

In the final weeks before the election, corruption allegations involving Moreno's running mate, current Vice-President Jorge Glas, have dominated airwaves. A leaked video widely shared on social media shows a disgraced former cabinet minister undergoing a lie detector test and accusing Glas of taking some of the $12 million in bribes paid to state-run PetroEcuador for construction of a refinery.

Glas has denied any wrongdoing.

As Ecuadoreans prepared to vote, the candidates offered contrasting visions for the country of nearly 16 million.

"We have two options," Lasso told voters on Twitter. "More of the same or change."

Moreno, who has used a wheelchair since being shot in an assault in 1998, told voters that Ecuador doesn't need drastic changes, just a "push."

"Don't abandon the revolution," he has repeated during the final campaign stretch.