"I won't be a candidate for any post in the ongoing election process," Acosta told a news conference, during which he thanked the Pachakutik movement for its offer last weekend.
He pointed out that the elections are not the only scenario to work for the country. He analyzed major projects for Ecuador, including the Food and Water Sovereignty Act, among others.
Alvarez's decision broke the expectations by leftwing and indigenous groups opposed to President Rafael Correa, who bet on rivalry between Acosta and the incumbent head of State at the polls.
The former Constituent Assembly leader was the only candidate who could shadow Correa in the upcoming elections.
Pachakutik will have to decide whether it chooses Luis Macas, former leader of the Confederation of Indigenous Nationalities of Ecuador (CONAIE), to run for president.
In 2006, Macas was CONAIE's presidential candidate and won just 5 percent of votes at the polls.
The other indigenous candidate was Cotacahi Mayor Auki Tituaña, who announced he will run for another post.
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