Ecuador intends to prevent oil and mining disputes from going to the Bank’s International Centre for the Settlement of Investment Disputes (ICSID). Bolivia announced in May that it wished to withdraw from ICSID; Venezuela and Nicaragua have said that they intend to do so (see Update 56). Bolivia’s withdrawal is being contested by ICSID’s ruling allowing a claim lodged by a subsidiary of Telecom Italia. Ecuador could either withdraw completely, or tell ICSID that it no longer wishes to allow certain categories of disputes to be arbitrated, though this might not carry legal weight. Ecuador is facing a billion dollar claim brought by US oil giant Occidental.
After 4 years of on-off negotiation and public opposition, the government of Egypt has signed a loan deal with the IMF whose impacts civil society fears will encroach upon human rights, social protection and social provision, like health and education, upon which the poorest depend.
Investments by the World Bank-hosted Global Financing Facility (GFF) do not reflect the family planning priorities identified by developing countries and local communities. The GFF also continues to suffer from a lack of transparency and meaningful civil society participation, raising doubts about the new mechanism’s effectiveness.
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