Illicit financial flows from Latin America have totaled roughly $1 trillion over the last decade, and many of the region’s countries have experienced recent, high-profile corruption scandals. While some countries have made progress, the challenge presented by corruption is still vast.
The Natural Resource Charter is a set of principles to guide governments' and societies' use of natural resources so these economic opportunities result in maximum and sustained returns for a country's citizens.
In April the Revenue Watch Institute [now the Natural Resource Governance Institute] organized a three-day workshop with Khazar University, in Baku, where stakeholders gathered from Azerbaijan, Kazakhstan, Kyrgyzstan, Russia, Tajik
Emerging economies, their governments and their companies, are playing an increased role in oil, gas and mining production - both within their own borders but also outside in other countries and regions.
The global economic downturn and the subsequent drop in commodity prices hit resource rich countries especially hard. In some countries, the shock has caused lasting harm, while for others diversification and prudent policies seem to have lessened the negative impacts.
Since the inception of the Extractive Industries Transparency Initiative (EITI), the reporting method for company payments to governments has been one of the most contentious issues, specifically, whether disclosures should be made on a disaggregated, company-by-company basis or in aggregated for