Source: Common Dreams
by Ana Caistor Arendar
“The people of Ecuador have given a resounding NO to the return of secretive, foreign corporate courts suing the Ecuadorian state for democratic decisions. In a referendum held last week, Ecuador voted to keep its constitutional ban on using international arbitration and investor-state dispute settlement mechanisms (ISDS) to settle disputes between foreign corporations and the state. This was the second time that the Ecuadorian people have voted No to ISDS and its international arbitration courts by means of a direct vote at the ballot box. The first time was in the 2008 constitutional referendum when a new constitution, including article 422 banning ISDS, was submitted to a popular vote. Then came the task of exiting ISDS commitments which the government and legislators managed to do, taking 8 years to fully achieve, in the face of powerful lobby groups doing their utmost to uphold ISDS.” (04/27/24)
https://www.commondreams.org/opinion/ecuador-corporate-power-isds-courts