BUENOS AIRES - Argentines vote on Oct. 25 for a new president to replace Cristina Fernandez whose two terms have been characterized by generous welfare benefits, state intervention in the economy and a debt default.
The three leading candidates all pledge to lure investment and boost the competitiveness of domestic industries. They differ, however, on the pace and depth of reforms to unwind state controls in Latin America's No.3 economy.
Daniel Scio, the ruling Front for Victory's candidate, is ahead in the presidential race but is not sure of an outright win in the first round and could be vulnerable if it goes to a runoff.
Mauricio Macri, the center-right leader of the opposition PRO party, is running second. In third is Sergio Massa, who defected from the ruling party in 2013 to form the Renewal Front, still under the broad umbrella of the Peronist movement.
Below is a description of these three candidates and summary of their policy proposals:
DANIEL SCIOLI
* Scioli, a 58-year-old former businessman and ex powerboat champion who lost an arm in a crash in 1989, is the two-time governor of Argentina's most populous province Buenos Aires.
He is a moderate Peronist who praises Fernandez' leftist populism model but advocates "gradual change" and pro-business solutions to stimulate the sluggish economy.
* Scioli says that settling a legal battle with U.S. hedge funds suing over unpaid debt is not a priority. He says he will negotiate "with tenacity" for a just outcome. Fernandez refused to offer the funds better terms than those handed to creditors who accepted steep writedowns after the 2002 default.
Scioli's advisors acknowledge a deal is needed to ensure access to international financing and say Scioli would "negotiate in good faith" with holdouts.
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