Oil, gas and mineral resources are distinctly different from other sources of government income. Only through good macroeconomic policy and public financial management can a country take full advantage of natural resources.
Parliamentarians have a crucial role to play in reviewing legislation on oil, gas and minerals, and in overseeing the government’s management of these extractive sectors. In support of this unique mandate, NRGI has developed five parliamentary briefings that constitute an approach to parliamentary capacity building on extractives.
This paper discusses challenges and approaches in managing resource revenues at the subnational level. Subnational resource-rich governments face distinct challenges in managing revenues from volatile, exhaustible resources.
Over the past decade, the boom in commodity prices and the growth of foreign exchange reserves have made Sovereign Wealth Funds (SWF) major forces in the global economy, with the largest funds managing well over $4 trillion in assets.