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The Final Bust: Country Strategies to Escape the Pitfalls of Low Commodity Prices

Discussion
18 April 2016 - 5:30pm to 7:30pm
Budapest, Hungary
Topics
Civic spaceCommodity pricesRevenue management
Countries
IndonesiaTanzania
Stakeholders: 
Civil society actorsGovernment officialsParliaments and political parties
Precepts
P1 P2 P8 P9 What are Natural Resource Charter precepts?
Social Sharing
This event is co-sponsored by NRGI and is open to the public. The hashtag for this event is #resourcegov.
 
Oil and mineral prices have been in a slump for two years, crippling economies in natural resource-rich countries around the world. While some countries—including Bolivia, Indonesia, Norway, Peru, Saudi Arabia and Timor-Leste—were well-prepared, others have not fared so well. Unmet expectations of large resource revenues have exposed budget vulnerabilities in Cameroon, Ghana, Iran, Mexico, Mongolia, Nigeria and Venezuela, among others. Important oil or mining projects in Guinea, Mongolia, Sierra Leone, Tanzania and Uganda are being delayed. As a result, each country has postponed plans for investments in much-needed infrastructure and social services. And opposition and civil society repression is intensifying in Azerbaijan, Gabon, Russia and Venezuela, likely related to financial pressures on elites.



Three experts and policymakers will explore how oil, gas and mineral-rich countries have responded to the commodity price crash and what they can do to prevent future boom-bust cycles. Why did so many countries fail to plan for the commodity price crash? Is there a race to bottom by countries trying to attract oil and mining investment? How can we encourage politicians to better plan for boom-bust cycles? And, given these boom-bust cycles and an extended period of low prices, will commodities really be a principal source of development financing in the future?
 
Panelists:
  • Sir Paul Collier, Professor of Economics and Public Policy, University of Oxford, UK
  • Rani Febrianti, Head of Legal Information, Ministry of Energy and Mineral Resources, Indonesia
  • Donald Mmari, Executive Director, Policy Research for Development (REPOA), Tanzania
 
The discussion will be moderated by NRGI’s Andrew Bauer.
 
Official event page
Facebook event page
 

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  • Topics
    Beneficial ownership
    Civic space
    Commodity prices
    Contract transparency and monitoring
    Coronavirus
    Corruption
    Economic diversification
    Energy transition
    Gender
    Global initiatives
    Legislation and regulation
    Licensing and negotiation
    Mandatory payment disclosure
    Measurement of environmental and social impacts
    Measurement of governance
    Open data
    Revenue management
    Revenue sharing
    Sovereign wealth funds
    State-owned enterprises
    Subnational governance
    Tax policy and revenue collection
  • Approach
    • Stakeholders
    • Natural Resource Charter
    • Regional knowledge hubs
  • Priority
    Countries
    • Colombia
    • Dem. Rep. of Congo
    • Ghana
    • Guinea
    • Mexico
    • Mongolia
    • Nigeria
    • Peru
    • Senegal
    • Tanzania
    • Tunisia
    • Uganda
  • Learning
    • Training
    • Primers
  • Analysis & Tools
    • Publications
    • Tools
    • Economic models
  • About Us
    • What we do
    • NRGI impact
    • Board of Directors
    • Emeritus Board Members
    • Advisory Council
    • Leadership team
    • Experts and staff
    • Careers and opportunities
    • Grant-making
    • Financials
    • Privacy policy
    • Contact us
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  • Blog
  • Events
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