Venezuela to quit World Bank body

Venezuela plans to leave the World Bank’s international arbitration body and try to settle disputes with foreign companies within its own judicial system, Oil Minister Rafael Ramirez said.

Venezuela to quit World Bank body
Mon, 16 Jan, 2012 - 07:30

Venezuela plans to leave the World Bank’s international arbitration body and try to settle disputes with foreign companies within its own judicial system, Oil Minister Rafael Ramirez said.

Mr Ramirez also announced that Venezuela would seek to renegotiate dozens of international investment-related agreements.

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