Bolivians are voting in a presidential runoff to decide which of two pro-business candidates they trust to lead them out of their deepest economic crisis in forty years.

Senator Rodrigo Paz of the Christian Democratic Party and former President Jorge Tuto Quiroga of the Alianza Libre coalition both pledge to curb government spending, phase out fuel subsidies, allow the currency to devalue and improve relations with the U.S. They both also want to attract more foreign investment, including to develop the nation’s vast lithium reserves in the Andes.

But whereas Quiroga has called for an International Monetary Fund program, Paz says he would first stabilize domestic finances before reaching out to the lender.

The first round of voting in August brought down the curtain on two decades of socialist government, when the ruling party was wiped out amid fuel and food shortages and soaring inflation.

Polling stations are open from 8 a.m. to 4 p.m., with participation compulsory for the nation’s 7.9 million voters. Preliminary results are expected after 8 p.m.

Paz defied polls to lead the first round with 32%, having picked up support from rural and working-class voters disaffected with the MAS. His running mate, Edman Lara, a former police office who rose to fame by denouncing corruption, played a key role in his success.

Quiroga secured 27% in the first round. He briefly held the presidency between 2001 and 2002 after President Hugo Bánzer Suárez stepped down due to ill health. Quiroga is popular among upper- and middle-class voters, many of whom are particularly wary of the left.

The winner is set to take office on Nov. 8.

Both candidates have visited Washington in recent weeks, heralding warmer relations after decades of hostility.

“Both candidates running in the runoff election want stronger, better relations with the U.S.,” Secretary of State Marco Rubio said recently.

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