(January 1, 2009) After months of threats, the government of Ecuador has made good on its promise to forego payment of foreign loans deemed illegitimate by the country’s debt audit commission. Ecuadorian President Rafael Correa announced that his country would not be paying $30.6 million interest due Dec. 15 on its 2012 global bonds after the commission claimed the debt had been ‘illegally’ acquired by past administrations.

(December 23, 2008) Ecuador’s Conscientious Default. When the government of Ecuador failed to make a scheduled interest payment on private bonds this month, it was hardly the first time a country had defaulted in the middle of a financial crisis. In fact, it wasn’t even the first time for Ecuador. The small South American country did so just 10 years ago, at a time when the economy was reeling from natural disasters and a drop in oil prices.

(December 23, 2008) When the government of Ecuador failed to make a scheduled interest payment on private bonds this month, it was hardly the first time a country had defaulted in the middle of a financial crisis.

(December 12, 2008) GUATAQUIL, Ecuador – Leftist President Rafael Correa defaulted on Ecuador’s foreign debt on Friday, vowing to fight bond holders in court in one of most aggressive moves against investors in the region for years.

(December 4, 2008) Latin America and the Caribbean are still paying the colonial tribute. The foreign debt, contracted under illegitimate, deceptive, illegal or corrupt terms, undermines the sovereignty of the peoples and forces them to hand over all their wealth. Odious debts, contracted by dictatorships, designed to subjugate and repress, combine with expansive debts: those that paradoxically, the more they are paid off, the more they grow. These debts were not contracted by the people but against them.

(November 20, 2008) Letter Sent to Bank President Questions Failure to Sanction Misconduct (Washington, D.C) – In the wake of recent news reports demonstrating serious breaches of the World Bank’s information security system, the Government Accountability Project (GAP) has sent a letter to Bank President Robert Zoellick requesting an accounting of steps taken to address the issue.

(November 20, 2008) Ecuador is again threatening to suspend payments on foreign debt deemed “illegitimate” pending the release later this week of a long-awaited report by the country’s government appointed debt audit commission.

(November 17, 2008) The official overseeing an audit of Ecuador’s foreign debt said his committee found evidence of abuses and irregularities tied to almost all of the country’s bonds and will recommend a default on $10.3 billion in national debt.

(November 17, 2008) Rafael Correa, Ecuador’s left-wing president, has heightened fears that the Andean nation will default on parts of its $10bn (£6.8bn) foreign debt, saying an internal audit due this week will determine if the debt is “illegitimate”.

(September 10, 2008) The relationship between the sovereign debt of developing countriesand the protection of social rights in those countries has received a lot of attention from an economic, political and moral perspective, but relatively little has been written about the legal side of this relationship.