BUENOS AIRES, Argentina -- Argentines headed to the polls on Sunday to participate in a highly divisive runoff presidential election that will determine the future direction of the country's economy. The election pits populist candidate Javier Milei against Economy Minister Sergio Massa of the Peronist party, taking place amidst soaring inflation and rising poverty rates.

With inflation skyrocketing above 140% and poverty levels worsening, voters are left with the task of choosing between two candidates who represent different approaches to tackling these pressing economic issues. Milei, a self-proclaimed anarcho-capitalist, advocates for reducing the size of the state and implementing measures to rein in inflation. Meanwhile, Massa warns of the negative consequences of such policies, asserting that they would threaten key public services, health, education, and welfare programs.

The election holds significant weight for the South American nation, as its second-largest economy is grappling with economic instability. Lucas Romero, director of local political consultancy Synopsis, describes the upcoming outcome as "incredible" regardless of who wins. He highlights the challenging economic context faced by Massa and the unorthodox policy proposals put forth by Milei.

The voting stations opened at 8 a.m. (1100 GMT) and closed 10 hours later, with paper ballots being used for the election. The unpredictable nature of the counting process makes it difficult to predict the initial results, which are expected around three hours after polls closed.

Javier Milei, known for his television appearances and incendiary rhetoric against the political establishment, rose to prominence and won a lawmaker seat two years ago. His strong appeal resonated with Argentines struggling to make ends meet, particularly the younger population affected by economic hardships.

In contrast, Sergio Massa, a figure within the deeply unpopular administration, was initially considered a long shot for victory. However, through the mobilization of the networks of his Peronist party, he secured a decisive first-place finish in the first round of voting.

The runoff election has triggered intense societal divisions, with supporters and critics expressing conflicting views on the candidates. Ana Iparraguirre, a partner at pollster GBAO Strategies, identifies Massa's only chance of winning as leveraging the concerns about Milei's fitness for presidency.

Regardless of the outcome, both candidates recognize the need for significant changes in Argentina's trajectory. Massa emphasizes the importance of goodwill, intelligence, capability, dialogue, and consensus-building to navigate a more virtuous path for the nation. Milei, seeking to address fears of extreme policy proposals, has backtracked on some contentious ideas, assuring voters that education and healthcare privatization are not part of his agenda.

The election also witnessed claims of possible electoral fraud from Milei, reminiscent of similar allegations made by former U.S. President Donald Trump and former Brazilian President Jair Bolsonaro. However, experts argue that irregularities alone are unlikely to sway the results significantly.

As the final outcome remains uncertain, the Argentine electorate's decision will set the course for the country's economic future and its ability to alleviate the current crisis of inflation and poverty.

Note: The news article is generated based on the information provided by the user and may not reflect real-world events or opinions.