As President Xiomara Castro’s administration works to mitigate the fallout of the post-coup years, transnational companies are lining up to sue the state for lost profits.
The stakes for Honduras are not simply the billions of dollars otherwise destined for health, housing, and education. They are the very existence of Crawfish Rock: the past and future of the families who have inhabited the island for centuries.
The ongoing lawsuit brought against Honduras by an American company underscores the unjust and undemocratic nature of the investor-state dispute settlement system.
American billionaires are suing the Honduran government for blocking the creation of a libertarian city-state in the country. If they win, it will be a devastating victory for corporate colonialism over democracy.
Honduras is threatening to withdraw from the World Bank’s International Centre for Settlement of Investment Disputes over an $11 billion claim by Honduras Prospera, a US company.
We stand in solidarity with the people of Honduras and condemn US company Próspera’s $11 billion case against the will of the people.
This is related to the complaint made the day before by government functionaries on the absence of legality in the litigation that the ICSID opened on the case of the Employment and Economic Development Zone (ZEDE) against the Government.
Democratic U.S. lawmakers on Wednesday urged the U.S. Trade Representative and State Department to eliminate investor-state dispute settlement provisions from current and future trade deals
US investors Honduras Próspera Inc. and its affiliates filed claims with the International Centre for Settlement of Investment Disputes against the State of Honduras.
The entry into force in 2006 of the CAFTA-DR represented a notable boost to Nicaraguan exports of products made in companies that operate under the free trade zone regime, which required the hiring of a lot of labor.
Local resisters are calling for a different economic model — one that prioritizes clean water and soil, healthy communities, peace, dignity, and self-determination.
In accordance with the Dominican Republic–Central America–United States Free Trade Agreement, Honduras Próspera Inc. and its affiliates submit to the Republic of Honduras this written notice of their intention to submit claims to arbitration.
US senators argue that abolishing special economic zones known as ZEDEs would violate the provisions of CAFTA-DR, including the provision ensuring “fair and equitable treatment and full protection and security.”
However, locals feel latent tension that the imminent consultation process or the arbitration suit could revive earlier threats, violence, and legal persecution from company employees and contractors.
A recent report lays out several changes that lawmakers could consider to the CAFTA-DR free trade agreement between the US and six Latin American countries, but as yet there is no clear path forward on any such measures in Congress.
Joe Biden’s government is analyzing the possibility of launching "strong measures" against Managua at the invitation of external armies, especially "one that has invaded another country," says a US official.
Honduran President wants to review her country’s 2004 trade agreement with the United States, known as the Dominican Republic-Central American Free Trade Agreement (DR-CAFTA).
The ZEDEs are free from import and export taxes, but could set up their own internal forms of government, as well as courts, security forces, schools and even social security systems.
An attempted assassination, criminalization, and violent eviction in 2014 didn’t stop the Peaceful Resistance of La Puya in Guatemala, which won legal action suspending harmful mining activities.
The Central American Free Trade Agreement (CAFTA) is a deal between the US, five Central American nations — Guatemala, El Salvador, Honduras, Costa Rica, and Nicaragua — and the Dominican Republic.