“The basic goal of the ICSID system is to promote much needed international investment by offering a mutual dispute resolution forum both to investors that are (rightly or wrongly) wary of nationalistic decisions by local courts and to host states that are (rightly or wrongly) wary of self-interested actions by foreign investors”.
(Guide to ICSID Arbitration second edition 2011 by Reed, Paulsson and Backaby).

a) To what extent can this statement be supported, given the denunciation of and withdrawal from the ICSID Convention by a number of Latin American states between 2007 and 2012?


b) To what extent might these developments be described as just a “storm in a teacup” or indicative of a much needed overhaul of

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