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Sri Lanka prominent in rise in global expropriation

The Multilateral Investment Guarantee Agency (MIGA), run by the World Bank, has said the risk of expropriation is rising in several countries, highlighting Sri Lanka as one of the countries where it is prevalent.

"Expropriation—which was an important threat to foreign investors in the developing world a few decades ago, but had since abated—is becoming more prevalent," MIGA said in a new report released today.

"Several new direct expropriations occurred in 2011-2012, notably YPF S.A. in Argentina partly owned by Repsol YMP S.A. (Spain) and Transportadora de Electricidad, a power transmission company in Bolivia owned by Red Electrica Española (Spain), and some local companies in Sri Lanka."

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