Chevron Corporation its obligations under international treaties. The tribunal held that a $9.5 billion pollution judgment by Ecuador’s Supreme Court against Chevron “was procured through fraud, bribery and corruption and was based on claims that had been already settled and released by the Republic of Ecuador years earlier.” Ecuador’s attorney general plans to appeal the tribunal’s ruling saying, “It worries us that the tribunal is asking a country to lift a sentence of one of its courts that was issued as part of a dispute between private parties." Chevron continues to take oil from the Amazon region at large. El Segundo (CA),
Economic history of Ecuador 50 percent of the central government's revenues. In 1985 Ecuador earned over US$1.8 billion in revenue from petroleum exports, two-thirds of Ecuador's export revenue that year. But a sharp decline in international oil prices in 1986 resulted in a US$1.1-billion drop in petroleum export revenue. The balance-of-payments current account, which registered a surplus of US$149 million in 1985, showed a US$613-million deficit for 1986. Foreign-exchange reserves declined to US$145 million by mid-1986, and real GDP growth for 1986 came to only 1.7 percent, compared with 3.8 percent in 1985. To meet the economic crisis, in January 1987 the government suspended