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The extractive industries in Latin America and the Caribbean must regain public trust and ensure its contribution to sustainable development from the economic, social, and environmental perspectives. This publication weighs these challenges against the development of policies aligned with international transparency standards and integrity, as a first step toward improving governance and preventing corruption in the extractive industries. It analyzes experiences and makes recommendations for strengthening the institutions charged with managing and monitoring the sector, harnessing new technologies and encouraging coordination between the government, civil society, and the private sector. The authors present studies that highlight innovative solutions in Argentina, Colombia, and the Dominican Republic and suggest ways to foster the good governance of natural resources based on adopting best practices in three strategic areas: national oil companies, sovereign wealth funds, and regulation of beneficial ownership.

During the last decade, the Latin American and Caribbean region has experienced unprecedented natural resources abundance. This book highlights how transparency can help realize the benefits and reduce negative externalities associated with the extractive industries in the region. A central message is that high-quality and well-managed information is critical to ensure the transparent and effective governance of the sector. The insights from experiences in the region can help policymakers design and implement effective regulatory reforms and adopt international standards that contribute to this goal. This is particularly important at a time when the recent boom experienced by extractives in the region may be coming to an end.

During the last decade, the Latin American and Caribbean region has experienced unprecedented natural resources abundance. This book highlights how transparency can help realize the benefits and reduce negative externalities associated with the extractive industries in the region. A central message is that high-quality and well-managed information is critical to ensure the transparent and effective governance of the sector. The insights from experiences in the region can help policymakers design and implement effective regulatory reforms and adopt international standards that contribute to this goal. This is particularly important at a time when the recent boom experienced by extractives in the region may be coming to an end.