Uruguay’s presidential election concluded Sunday night with none of the candidates earning the outright majority needed to win in the first round. Leading candidates Daniel Martínez of the Frente Amplio (leftist coalition that’s governed Uruguay for almost 15 years) and Partido Nacional’s Luis Lacalle Pou will face off in a November 24 run-off.

Mr Martinez (right side of the picture), ex-mayor of Montevideo and former minister, had around 38% with a third of votes counted, well short of the absolute majority needed to win outright. His rival, former senator Lacalle Pou (left) was running second with 30%.

Even if Mr Lacalle Pou has more conservative view, both candidates are focused to reboot the economy and the outlook of this election won’t change the stability of Uruguay’s democracy. Uruguay’s country risk will remain stable, and the country has not become riskier than last week for Investors.

The winner of the November 24 runoff will start his 5 year term on March 1, 2020.

Finally, Uruguayans also elected 99 deputies and 30 senators and voted on a series of referendums on tough on crime measures.