Argentina says it plans to withdraw from the International Centre for Settlement of Investment Disputes, ICSID

Argentina in the process of quitting 

from World Bank investment disputes centre

Argentina says it plans to withdraw from the International Centre for Settlement of Investment Disputes, ICSID, a World Bank body designed to arbitrate between states and foreign investors.

This follows similar decisions by several other countries in Latin America like Bolivia, Ecuador and Venezuela.

Eduardo Barcesat, the chief legal advisor to Argentine’s Treasury, is working on this project. He says ICSID is quote: “a tribunal of butchers” that only rules in favour of multinational companies. Barcesat believes quitting the Center would be a key move to recover Argentina’s legislative and jurisdictional sovereignty.

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