Hello, and welcome to the Latin America Weekly newsletter! In this issue: The aftermath of an Amazon referendum in Ecuador. The downfall of Brazil’s Car Wash echoes in Peru. And a noisy divorce in Honduran politics.
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Ecuador referendum not the final word on Amazon drilling
Ecuador’s snap presidential elections on August 20 ended up overshadowing a key vote occurring at the same time: a referendum asking whether to suspend oil drilling at the Yasuni National Park, a protected area in the Amazon rainforest.
- Nearly 60 percent of Ecuadorians approved of the ban, which would require state-owned oil company Petroecuador to end operations within a specific Amazon area called Block 43.
Why it matters. While Block 43 represents less than 0.01 percent of the Yasuní National Park, drilling there currently generates 11.5 percent of Ecuador’s oil output, potentially reaching 90,000 barrels a day by 2025.
- If the ban goes ahead, USD 16.4 billion in revenue plus a series of well-paying jobs could be lost over the next 20 years.
- However, Yasuní...