NRGI’s Latin America director Juan Luis Dammert spoke at the United Nations Global Roundtable on Extractive Industries about how developing countries could avoid the race to bottom in attracting investments and ensure the extractives sector contributes to sustainable development.
La buena gobernanza de los recursos mineros y energéticos aún no es la norma a nivel mundial. A pesar de que muchos países cuentan con grandes reservas de minerales, gas y petróleo, existe una compartida incapacidad por transformar estos recursos en desarrollo sostenible. Esta “maldición” persigue especialmente a países en África, Asia y América Latina.
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.