NRGI set out to collect total oil, gas and mining revenue data for the countries included in the Resource Governance Index to find out how many dollars flow to governments that mismanage the handling of their natural resources.
Resource-rich Latin American countries did experience high rates of economic growth and diminished poverty and inequality during the boom years. On the surface, this would appear to strengthen arguments that extractive industries are key to progress, especially in resource-rich areas, despite their negative environmental impact. Nevertheless, a closer look shows that things are a bit more complicated.
What’s next for Latin American civil society as the supercycle of high commodity prices recedes in the rear-view mirror? And what are the most interesting trends in the extractives sector in the region?
The creation of a land bank that would redistribute FARC-occupied territory as reparations to victims of Colombia’s decades-long armed conflict is an important component of the country’s peace accords.
With the Open Government Partnership Global Summit coming up 7-9 December in Paris, government reformers and civil society campaigners working on the extractives and land sectors will be pleased to see that contract transparency and environmental disclosure will likely feature in the summit outcome document.