I. Ramdoo. 2011. Extractive resources: Challenges in ACP countries. (ECDPM Presentation).
Extractive Resources: Challenges in ACP countries
1. Extractive Resources: Challenges in ACP countries
Isabelle Ramdoo (Ms) Policy Officer, Economic and Trade Cooperation
ACP House, Brussels 16 September 2011
2. Structure of Presentation
• Part 1: Overview
• Part II: What’s at stake?
– Multiple Challenges
– Multiple opportunities
• Part III: Way forward: What could be improved?
3. Part I: Overview
Importance of extractive industries (i.e minerals, oil and gas)
4. Part II: What’s at stake? A. Multiple challenges
• High dependency on revenue extraction
• Poor governance and economic performance
• Environmental challenges
5. Export concentration of ACP mineral rich countries
• ACP countries have been remarkably resilient to the financial crisis
• ACP countries are suppliers
• Prices higher than ever before
• New geological discoveries
• Role of private sector
• Emerging players
7. Way Forward: What could be done better?
1. Transparency and governance are key issues, but quite complex. Overall Ibrahim Index of African Governance, 2010
8. Way Forward: What could be done better?
2. Economic reforms
2.1 Economic policies and sequencing through use of local content, employment of local population, linkages with other sectors
2.2 Mobilising resources from extractive industries through fiscal reforms and reviewing contracts Way Forward: What could be done better?
9. 2.3.Addressing capital flights to finance development
MDG Priority countries
10. Way Forward: What could be done better?
2.4 Managing extractive resources through:
(1)Prudent budgeting and transparent expenditures;
(2) Creating “funds” and
(3) transfer of revenues to communities
11. Thank you!
Contacts: Isabelle Ramdoo (email@example.com)
San Bilal (firstname.lastname@example.org)