Transparency advocates hailed the adoption today of a rule by the United States Securities and Exchange Commission requiring oil, gas and mining companies listed on U.S. stock exchanges to publicly disclose the billions of dollars in payments that they make to governments around the world in exchange for natural resources.
This is an important year for Myanmar. With expectations so high, the new government is under enormous pressure to prove that it can transform the more than 20 trillion kyats (USD 17 billion) budgeted into tangible benefits for the people of Myanmar. This will not be easy, yet significant reforms are already underway to help achieve this objective.
As prices of various commodities fall, many resource-rich countries are facing increasingly difficult choices. This series of articles, by NRGI experts and the organization’s partners, explores specific challenges in different contexts, as well as the solutions open to countries facing lowered investment, reduced government revenues, and increasing deficits.