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Chávez Moves to Exit Global Dispute Forum
Pullout From World Bank Unit Would Fit a Nationalistic Bent
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- LATIN AMERICA NEWS
- SEPTEMBER 13, 2011
Chávez Moves to Exit Global Dispute Forum
Pullout From World Bank Unit Would Fit a Nationalistic Bent
BY JOSÉ DE CÓRDOBA
President Hugo Chávez of Venezuela has taken steps to pull out of the global forum most used to settle investor disputes, where Caracas faces more than $40 billion in claims for nationalized properties.
Venezuelan officials have drawn up plans, at Mr. Chávez's order, to withdraw from the International Centre for the Settlement of Investment Disputes, or ICSID, a unit of the World Bank in Washington, according to recent documents reviewed by The Wall Street Journal.
A withdrawal would be the latest in a series of actions Mr. Chávez has taken to protect Venezuela's international assets from possible seizure by foreign ...
BY JOSÉ DE CÓRDOBA
President Hugo Chávez of Venezuela has taken steps to pull out of the global forum most used to settle investor disputes, where Caracas faces more than $40 billion in claims for nationalized properties.
Venezuelan officials have drawn up plans, at Mr. Chávez's order, to withdraw from the International Centre for the Settlement of Investment Disputes, or ICSID, a unit of the World Bank in Washington, according to recent documents reviewed by The Wall Street Journal.
A withdrawal would be the latest in a series of actions Mr. Chávez has taken to protect Venezuela's international assets from possible seizure by foreign ...
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