The Resource Governance Index is an important tool for assessing how well countries govern their natural resources.
The Revenue Watch Institute has published the Resource Governance Index ranking 58 resource rich countries in terms of transparency and accountability of the governance of sector. Together these countries cover 85% of the world's petroleum, 90% of diamonds, and 80% of copper.
The report finds that only 11 of 58 countries have satisfactory standards of transparency and accountability. It contains important recommendations for governments in the improvement of governance.
Jonas Moberg, Head of the EITI International Secretariat, said: "The Resource Governance Index is becoming an important tool for assessing how well countries govern their natural resources. It compliments the work of the EITI in the 39 countries which are now implementing the EITI Standard. The revised EITI Standard which was adopted in Sydney will address a number of the recommendations made in this Index, including requiring more transparency of state-owned companies and natural resource funds."