QUITO (REUTERS) - Ecuadorean banker Guillermo Lasso has won Sunday's (April 11) presidential runoff vote against leftist economist Andres Arauz, putting the country on track to maintain open market policies rather than return to socialism.

Mr Arauz conceded his defeat after receiving 47.5 per cent of the votes compared with Mr Lasso's 52.5 per cent, with 97 per cent of poll statements processed, according to figures published by the National Electoral Council.