On June 21, 2021 the Republic of Ecuador decided to re-sign the ICSID convention in an effort by the newly elected President Lasso to attract more foreign investment.
Ecuador had previously signed said treaty in 1986, but later denounced it in 2009. What does this mean for other countries in the region who have notoriously spoken out against ICSID and foreign investments? While we think Ecuador´s case is unlikely to inspire copycat decisions, we do expect various repercussions in the region, both positive and negative.
Please click here to read the full alert memorandum.
For the Spanish language version of the alert, click here.