Guillermo Lasso is the winning candidate in Ecuador

Guillermo Lasso, winning candidate in Ecuador: the reactions after the second round and what is next for him 7:00

(CNN) -

Former conservative banker Guillermo Lasso is the winning candidate in the second round of Sunday's presidential elections in Ecuador, after defeating left-wing economist Andrés Arauz.

With more than 98% of the vote, Guillermo Lasso led with more than 52% of the votes compared to 47% for Arauz, according to data published by the National Electoral Council of Ecuador (CNE).

The president of the CNE, Diana Atamaint, said on Sunday that the plenary session of the institution will hold a public hearing to hear and announce the official results of the second round of elections until next Wednesday.

Guillermo Lasso supporters celebrate in Guayaquil, Ecuador.

(Photo by Gereardo Menoscal / Getty Images / Getty Images)

"Democracy has triumphed, Ecuadorians, all of you, have used their right to choose and have chosen a new course, a new course very different from the last 14 years in Ecuador," Lasso celebrated, addressing a crowd of supporters in the Ecuadorian city of Guayaquil.

Arauz, a protégé of former President Rafael Correa, conceded his defeat shortly after, congratulating Guillermo Lasso on his victory.

"I am going to congratulate Mr. Lasso on today's electoral victory," Arauz said in a speech.

"We are a responsible and democratic actor in Ecuador."

advertising

The current president of Ecuador, Lenín Moreno, congratulated Guillermo Lasso and said that "democracy has triumphed."

Today, the Ecuadorian people have demonstrated democratic maturity on a peaceful and transparent electoral day.

Congratulations to @LassoGuillermo.

I wish him the best of success for the benefit of Ecuadorians.

Democracy has triumphed!

- Lenín Moreno (@Lenin) April 12, 2021

Other leaders and officials of various Latin American organizations issued messages about the elections in Ecuador.

Guillermo Lasso will take office on May 24.

With information from Stefano Pozzebon in Bogotá

Elections in Ecuador