Ecuador recovers only $4.4M of $71.4M paid to Austral Technical Management

Ecuador's state power company Celec recovered just $4.4 million from a $71.4 million payment to Austral Technical Management (ATM), representing 80% of a contract lacking guarantees. The recovery is a small fraction, highlighting potential financial mismanagement or fraud. The development signals ongoing accountability efforts but leaves the bulk of funds unrecovered.