Earlier this month, President Rafael Correa abandoned the novel Yasuní-ITT initiative, which was launched in 2007 to keep the oil underground.
Likely top stories this week: Venezuelan opposition agrees to participate in corruption debate; Chilean presidential candidate Evelyn Matthei registers her candidacy; Humala’s popularity reaches a new low; peace talks resume in Colombia; and environmental groups seek a referendum to prevent drilling in Ecuador’s Yasuní National Forest.
Following four months of negotiations, the Ecuadorian government and the United Nations Development Programme (UNDP) are expected to sign an agreement on August 3 that will create a trust fund to manage international contributions to the Yasuni – Ishpingo Tambococha Tiputini (ITT) initiative.
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