Ecuadorian authorities Saturday denied that a recent debt swap through the creation of the Galapagos Life Fund (GLF) trust entailed the loss of sovereignty over the Galapagos Islands as a newspaper claimed.
In a debt for nature swap, Credit Suisse has announced buying Ecuadorian bonds worth US$1.6 billion. With Ecuador in severe financial turmoil, the bonds were trading well below face value as investors considered non-repayment to be likely. Effectively, Ecuador has now bought its own debt back at a knock-down price via a fresh loan from Credit Suisse.
Ecuador has created the marine reserve north of the Galapagos Islands in the Pacific helping to form a ring of protected areas, along the South American north Pacific rim that will include Colombia's Malpeso island, Panama's Coiba islands and Costa Rica Cocos islands.
Ecuador's Geophysical Institute has reported the Wolf Volcano, located on Isabela Island, the largest in the Archipelago of the Galapagos, went into eruption early Friday. The volcano, the highest of the Galapagos, is some 100 kilometers (62 miles) from the nearest human settlement.
The Darwin Arch, a natural rock in the Ecuadorean Province of Galapagos, has collapsed due to “natural erosion,” the Ministry of the Environment and Water reported late on Monday.
Prolific Galapagos giant tortoise Diego is being released back into the wild after being credited by authorities with almost single handedly saving his species from extinction. The 100-year-old tortoise, who was recruited along with 14 other adults for a captive breeding program, will be returned to his native island of Espanola in March, the Galapagos National Parks service (PNG) said on Friday.
Conservationists in the Galapagos Islands have found a giant tortoise from a species thought to have become extinct more than a century ago. The adult female tortoise was found on the island of Fernandina in the west of the Pacific archipelago and is believed to be a Fernandina Giant Tortoise, also known as Chelonoidis phantasticus, a species last sighted in 1906.
April 25th is “World Penguin Day”, undoubtedly the world’s most popular bird – think of Happy Feet, March of the Penguins, Pingu just to name a few uses in popular culture. These charismatic flightless birds are funny to watch on land but are graceful and rapid in water. They occur only in the seas of the Southern hemisphere; there are seventeen species of penguin ranging from the Galapagos to Antarctica.
Overfishing has given rise to a diplomatic trouble between China and Ecuador. In mid-August, Ecuador detained a Chinese vessel in the Galapagos Islands and found 6.600 sharks on board. The 20 Chinese fishermen have been sentenced up to four years for illegally fishing and to pay US$ 5.9 million.
Authorities in Ecuador have detained the crew of a Chinese fishing boat suspected to have caught hundreds of endangered sharks in the Galapagos Islands. The Fu Yuan Yu Leng 999 was found Sunday in the archipelago, which is a marine reserve, carrying 300 tons of fish.