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2010 Ecuadorian government and the UN Development Programme agree to open an international trust fund.
He also asked that it be paid for through an international trust fund.
But either of these steps is likely to undermine public and international trust in the integrity of the elections.
Both countries called the plan a setback to international trust that was likely to upset the balance of power.
The verification issue, which cuts deeply on matters of national sovereignty and international trust, was a major factor in the torpedoing of last year's climate negotiations in Copenhagen.
Six global powers have agreed to resume negotiations with Iran on its nuclear programme, calling for "concrete and practical steps" to restore international trust in Tehran's stated intentions.
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Ningbo International Trust and Investment, Ningbo Donghai Trust and Investment and Citic Ningbo were closed on Thursday, officials said, giving no details about the trusts' debts beyond saying that they could not pay them.
The only Chinese enterprises that are allowed to borrow in foreign currency are so-called International Trust & Investment Corporations (ITICs), which are investment arms of local governments.
During the 1990s hundreds of financial institutions tied to local governments were closed, along with Guangdong International Trust & Investment Corporation GITICC), the second-largest non-bank financial institution.
Yingda International Trust, for example, earned less than 0.17% in 2009 in fees and commissions on the assets under its care.
The Tianjin International Trust and Investment Corporation failed to make scheduled interest payments on a $112 million yen-denominated bond issue.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com