Ecuador intends to prevent oil and mining disputes from going to the Bank's International Centre for the Settlement of Investment Disputes.
Latin America & Caribbean
Environment
News
IFC: carbon cowboys in the Amazon
The International Finance Corporation (IFC) and the Inter-American Development Bank (IDB) risk breaching their own social and environmental safeguards if they provide funding for the Peru liquefied natural gas project, or Camisea II.
IFI governance
News
Ecuador turfs out IMF representative
Following its expulsion of the World Bank’s country representative, Ecuador has now thrown the IMF’s resident representative out of the offices of the Central Bank.
Private Sector
News
Threats to withdraw from Bank's investment tribunal
End April the leaders of Bolivia, Venezuela, and Nicaragua agreed to withdraw from the World Bank's International Centre for the Settlement of Investment Disputes, a tribunal which rules on cases against governments brought by foreign investors.
Land
News
IFC: Cowboys in the Amazon
In March the IFC approved $90 million towards a $424 million expansion and modernisation programme for Brazil's leading beef and leather processor Bertin Ltda.
Conditionality
News
Bank of the South to challenge IMF or IDB?
Argentine president Nestor Kirchner and Venezuelan president Hugo Chavez announced 21 February that the two governments would establish a Bank of the South within 120 days.
Conditionality
News
Ortega opts for new PRGF for Nicaragua
Newly elected Nicaraguan president Daniel Ortega and his Sandinista party are presenting two different faces to the IMF.
Conditionality
News
Ecuador, Philippines repay IMF debt
Newly elected Ecuadorean president Rafael Correa, announced in January that he would make early repayments of his country’s $33 million debt to the IMF.
Conditionality
News
Dominican Republic taxes at IMF “gun point”
A controversial tax reform programme in the Dominican Republic was forced onto the country by the IMF, in the words of finance minister Vicente Bengoa, “at gun point”.
Environment
News
CAO fails to reduce conflict in Peru
A report by Friends of the Earth finds that the 'roundtable dialogue' set up by the World Bank's Compliance Advisor Ombudsman (CAO) has been unable to fulfil its objectives to intervene effectively in conflicts between the IFC-supported Yanacocha mine company and affected communities in Cajamarca, Peru.
Finance
News
Uruguay announces early IMF repayment
In November Uruguay committed to clearing its balances with the IMF earlier than required, announcing its intention to repay its remaining balance of $1.1 billion sometime next year.
Rights
News
Uruguay pulp mills: “no risk”
IFC-commissioned impact assessment has found few environmental and social risks posed by the pulp and paper mills being built by Finland’s Botnia and Spain’s ENCE in the Uruguayan town of Fray Bentos.
