According to a news report on Bloomberg, Correa said, “Let no one be fooled, the fundamental reason this failed is because the world is hypocritical.The world has failed us.”
Actually, I'd say Ecuador, and especially the Yasuni National Park, is the victim of Correa's policies.
In 2007 Correa announced a plan for wealthy countries to fund the non-exploitation of the fields. The plan sought $3.6 billion over 13 years in contributions from the international community to protect the area. Contributions to a fund in return for not exploiting the fields were to be managed by the UN’s Development Program.
However, Correa bristled at any controls over the money, calling any suggestions a "attack on the country's sovereignty " an ongoing theme of the President. That, coupled with his regular policies of revoking current agreements whenever it suited his government, refusing to pay government bonds simply because he wanted to spend the money on social programs and otherwise making a name for his government being unreliable, potential donors were put off from relying on him. Then, the final point was what happens in 13 years when the payments stop coming, Ecuador would open up the national park for drilling anyway?
Donors wanted guarantees. Correa rejected guarantees as "insulting." And meanwhile, the Ecuador government is increasing spending this year 24% as it works to build a Venezuelan-style social state.
Correa needs the money. He has very limited borrowing ability because he has trashed Ecuador's credit. It was only a matter of time before he opened the fields.
Which is a shame, because Yasuni is literally a world treasure. It is sad to see the rape of its jungle lands come a large step closer.
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