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CGD Policy Blogs

 

US Backs Away from Its Commitment to Extractive Industry Transparency

The US Department of the Interior announced last week that the United States would no longer seek to comply with the Extractive Industries Transparency Initiative (EITI), an international multi-stakeholder organization that aims to increase revenue transparency and accountability in natural resource extraction. The move—while disappointing—is not altogether unexpected. And sadly, it will put the United States further behind the curve when it comes to corporate transparency.

Extractive Industry Transparency Rule Subject to Long Battle, Poised to Meet a Quick End

President Trump and many congressional Republicans have made no secret of their strong interest in dismantling “Dodd-Frank,” a law signed in the wake of the 2008 financial crisis to strengthen regulation of the financial industry in the United States. But it’s a small, seemingly peripheral, transparency provision focused on developing countries that’s poised to be one of the law’s earliest casualties. Congress quietly voted last week to torpedo implementation of a rule that would require U.S. firms to disclose payments made to foreign governments for the commercial development of oil, natural gas, or minerals.

What Tillerson’s Leadership Could Mean for US Development Policy

The Senate Foreign Relations Committee voted yesterday to give the greenlight to Rex Tillerson’s nomination for Secretary of State. Assuming he is confirmed by the full Senate—which at this point is all but certain—Tillerson will play a critical role in shaping US foreign policy from the helm of the State Department with important implications for global development. While, like other nominees, some of Tillerson’s stated positions appear out of sync with those espoused by President Trump, it’s worth examining where Tillerson is on the record when it comes to issues of development and humanitarian relief.

FY16 State and Foreign Operations Appropriations

Policy wonks usually bemoan the lack of a functional budget and appropriations process. This year, however, CGD’s policy outreach team is (reluctantly) crossing its fingers for a continuing resolution—an outcome that seems increasingly likely with only eight legislative weeks before the end of the fiscal year.