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.
NRGI reviewed over 50 mining and oil laws and found that none required regulators to actually check whether applicants for extractive licenses are politically exposed persons. This briefing offers advice on how governments can strengthen their extractives licensing policies and processes to tackle basic corruption risks posed by such problematic beneficial ownership linkages.
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.
The oil, gas, and mining sectors of many countries often seem to be surrounded by secrecy and suspicions of vast wealth gone missing through a combination of bad deals with foreign companies, poor management, and corruption.