Researchers examined 52 oil- and mineral-backed loans from China, commodity traders and other lenders to sub-Saharan African and Latin American countries. The analysis of the loans, which totaled $164 billion between 2004 and 2018, has exposed clear risks and opportunities that come with this type of borrowing mechanism.
Fiscal rules—permanent quantitative constraints on government finances—are an important tool to help mitigate the macroeconomic challenges associated with managing natural resource revenues. This paper sheds light on large gaps in compliance and oversight of fiscal rules, and provides policy recommendations on how fiscal rules can be further strengthened.
Four years after the Extractive Industries Transparency Initiative (EITI) began encouraging contract disclosure through its standard, this report assesses the extent to which governments of resource-rich countries have taken up the recommendation.