BOGOTA, Colombia

More than 35 million Argentines were called to the polls on Sunday to elect the nation's next president who will receive a country mired in a deep economic crisis.

Javier Milei, Sergio Massa, Patricia Bullrich, Myriam Bregman, and Juan Schiaretti face each other in the presidential race, with the first three being the most likely to win the position.

Traditionally, Argentine politics have revolved around two axes: Peronism and anti-Peronism. But this time, it was Milei, a radical outsider standing for the La Libertad Avanza party who unexpectedly took the lead in the August primaries.

The outspoken right-wing economist has promised to ditch the Argentinian peso, replacing it with the US dollar, abolish the country’s central bank, and sharply reduce state spending. He has appealed to a young population increasingly disillusioned by mainstream politics.

Argentina is suffering under an inflation rate of 138% and a devalued currency that has left 40% living below the poverty line.

Former security minister Patricia Bullrich, the candidate from the center-right Together for Change coalition, has proposed to cut spending to tackle inflation and lower taxes on farm exports.

Sergio Massa, the current economy minister who has received support from the governing Peronist coalition, has been criticized by conservatives who say he has not done enough to reduce the fiscal deficit.

To win, a candidate must obtain more than 45% of the vote or over 40% with a more-than 10-point lead over the second-place candidate. Experts say there will most likely be a second round on November 19 to determine the next president. The winner will take office on December 10.

Argentines will elect their future president, half of the deputies, and one-third of the Senate in the election.

Voting stations opened at 8.00 a.m. local time (1100GMT) and will close at 6.00 p.m. (2100GMT) throughout the country, where voting is mandatory for all people between 18 and 70 years old and optional for young people between 16 and 18 years old and for those over 70.