Recent Articles

Headlines about resource-rich economies faltering under crashing commodity price pressures fill the news. "Venezuela in a bind as Nicolas Maduro faces default dilemma" warns the Financial Times. "Alberta premier considers sales tax to fix ailing, oil-based economy" says the Canadian Press. "Iran says it can no longer afford Ahmadinejad's cash handouts" reports the Guardian...

Uganda's Ministry of Energy and Mineral Development (PEPD) recently extended the deadline for firms to submit bids in its first-ever round of licensing for six oil blocks in the Albertine Graben...

The price of oil, the commodity that more than any other determines the fortunes of Nigeria, has fallen over 50 percent since June 2014. The country’s 37 billion barrels of oil reserves are now significantly less valuable than before...

The Nigerian government has released a PriceWaterhouseCoopers audit report about the financial flows between the national oil company and the country's treasury. The document joins a long list of reports that reach a common conclusion: the Nigerian National Petroleum Corporation is broken, and requires urgent overhaul.

In the latter part of 2014 global oil prices fell at one of the most rapid paces in history. In Ghana this exposed a precarious fiscal situation that has undermined the high ambitions expressed by Ghanaians just a few years ago. Countries like Uganda and Tanzania that are currently shaping policies and laws to manage “resource curse” pressures can surely learn from Ghana’s troubling experience.

NRGI president Daniel Kaufmann recently visited Indonesia, where he met with editors from Tempo magazine. What follows is a reproduction of the resulting news story, “Good Governance Means the Rule of Law, Not the Rule of Man Prevails,” posted here with Tempo’s permission.

The dramatic fall in the value of oil and other commodities over the past six months has impacted both governments and communities in resource-rich countries, and has sent many searching for lessons learned during previous periods of price crashes.

Developing, capital-scarce countries need domestic investment. Governments must invest in education, health and infrastructure like roads, ports, electricity, water and sanitation systems if they hope to achieve middle- or high-income status in a sustainable and balanced way.

NRGI economic analyst David Mihalyi looks at the inherent uncertainty in mineral prices, and discusses how overoptimistic forecasts can undermine the design of fiscal policy and fuel public expectations.

In partnership with Fundacion Foro Nacional Por Colombia, the Natural Resource Governance Institute (NRGI) organized a resource revenue management workshop for trainers in Bogota, from 16 to 20 March....

As part of our programming, NRGI has developed five briefings offering an overview of the current situation in Myanmar's extractive sector on the following topics: EITI, contract disclosure, revenue management, state-owned enterprises and fiscal regimes.

In early February, the government of Mongolia went to the nation's mobile phone subscribers with a seemingly simple opinion poll. To stabilize the value of its declining currency, should Mongolia (1) advance the Oyu Tolgoi mine and other large-scale development projects, or (2) reduce expenditures and consumption, and instill economic discipline? As their economy faltered, citizens essentially faced a choice between foreign investment or austerity measures. "Let's decide together," the survey entreated potential respondents.

The IMF is in the process of issuing a new Fiscal Transparency Code (FTC) to replace its Code of Good Practices on Fiscal Transparency. The existing code forms part of the IMF’s guidance on fiscal transparency to its member countries. It is used to prepare voluntary country reports, which guide IMF policy discussions with national authorities and provide valuable information on countries’ adherence to internationally recognized standards...

For many in energy importing economies, low prices are a boon. But the drop in commodity prices is impacting the wellbeing of citizens in developing, resource-rich countries...

Oil is the lifeblood of modern economy. The discourse about how oil has made or marred the destinies of nations is intrinsically linked to its governance...

Falling oil prices have had dramatic effects on the solvency of highly oil-dependent countries, particularly those that have not saved much of their windfall receipts in boom years. In November, Ghana’s finance ministry presented its 2015 Budget Statement and Economic Policy to parliament...

Ghana’s Minister of Finance has tabled before the country’s parliament the government’s 2015 budget and economic policy statement. The budget statement includes economic forecasts, estimated revenues and proposed resource allocation for the upcoming financial year, as well as projections for 2015 petroleum receipts.

For the past two and a half years, NRGI partners in Southeast Asia have worked together to create their very own, and very first, regional guide to governance in the extractive sector.

For more than a century, mining has played a prominent role in Ghana’s economy. Despite recent mine closures spurred by falling gold prices, the sector has averaged $2 billion per year for more than five years, accounted for 6 percent of GDP, and contributed 18 percent of total corporate tax earnings and 27 percent of total government revenues...

Four years ago, Mongolia’s vast mineral wealth prompted some to call it the “Saudi Arabia of Central Asia”. Today, the country is struggling with declining mineral revenues and inflation.

Earlier this month six Mongolian members of parliament (MPs) and three parliamentary staff members toured western Canada to learn about Canada’s experience managing its mineral and oil booms and busts.

"At first, I thought that the NRGI knowledge hub training in Lebanon would simply be like the many other events I have attended on various issues. However, I realized from the presentation of the program and the opening messages that the organizers were serious and knew well what they were doing."