An ex-president and a former finance minister will vie for Costa Rica's presidency after topping a first voting round in one of Latin America's stablest democracies, albeit one battling growing economic woes.

Center-left former president Jose Maria Figueres, 67, received the most votes in elections Sunday from a crowded field of 25 candidates.

With nearly 90 percent of ballots counted, Figueres was at 27 percent support.

In a surprise outcome, second place went to conservative former finance minister Rodrigo Chaves, 60, who garnered almost 17 percent of the vote despite having polled in fourth position.

Both men are tainted by scandal: Figueres was investigated for alleged financial misdeeds, and Chaves for sexual harassment. Both denied wrongdoing.

With no candidate receiving the 40 percent of votes required for a first-round win, the candidates will battle it out in an April 3 runoff in the Central American nation.

Costa Rica, a tourist hotspot of five million people and a leading green economy, is frequently rated the region's "happiest" country.

However, polls show unemployment, corruption and rising costs of living topping the concerns of 3.5 million eligible voters.

Unemployment has steadily risen for more than a decade to reach 14.4 percent in 2021.

The poverty rate stood at 23 percent last year while the public debt was 70 percent of GDP.

Costa Rica's problems have worsened with the coronavirus pandemic dealing a hard blow to its critical tourism sector.