This work examines investment disputes between foreign investors and host states in Latin America, primarily resolved under the ICSID Arbitration Rules. Through a case-by-case analysis of selected arbitral awards and decisions from ICSID tribunals and ad hoc committees, it explores the decision-making processes involved in these disputes. The focus is on how tribunals analyze arguments and defenses related to investment protection standards in bilateral investment treaties and free trade agreements within the region. Additionally, the work addresses problematic issues in investment arbitration and contextualizes the research within Latin America’s economic landscape. It provides insights into the region's perspective on ICSID investment arbitration and its future, questioning whether Latin America should continue with the ICSID system and proposing necessary changes for its development. The conclusion emphasizes balancing the interests of host states and foreign investors. This research serves as a valuable resource for arbitrators, judges, legal practitioners, academics, and students, enhancing their understanding of investment arbitration in Latin America and its evolving jurisprudence.
