Cannabis (or marihuana) is one of the most widely consumed psychoactive substances in the world. According to the United Nations World Drug Report, 183 million people, or 3.8% of the world’s population, used cannabis in 2014. Its cultivation was also reported by 129 countries. Cannabis is subject to the United Nations System for International Control of Narcotic Drugs and Psychotropic Substances (hereafter “drugs”) and is the most widely consumed of all the drugs. According to that control system, cannabis is among the substances with the strictest legal status; they are the most prohibited, supposedly because of the harm they cause and their lack of medical usefulness.
How fair is the investment arbitration system in Latin American and Caribbean (LAC) countries? Are investor-state disputes balanced between national and corporate interests? LAC countries are among the most affected by the investment arbitration system, representing 28.6% of all known investor-state disputes around the world. In particular, Argentina, Venezuela, Mexico, Ecuador, Bolivia and Peru account for 77.3% of the total number of claims against LAC countries. Analysis shows that the system so far heavily favours corporate interests. Investors have won in 70% of the cases brought against LAC countries. As a result, LAC States have already had to pay foreign companies 20.6 billion USD, which could cover Bolivia’s budget for health and education for four whole years.