Correa Sends Odebrecht Packing

Ecuadorian President  Rafael Correa
Ecuadorian President Rafael Correa
Ecuador´s President Rafael Correa has now taken the bold step of kicking Brazilian dam-building giant Odebrecht out of the country. Odebrecht officials have reported taken sanctuary in the Brazilian embassy in Quito, and Correa now says Ecuador may elect to default on a loan of more than $200 million from Brazil´s National Development Bank, BNDES for construction of San Francisco Dam. The problem, as described in my blog last week, was the Brazilians´ shoddy worksmanship, and their refusal to compensate Ecuador for damages to the dam.