Armenia becomes the 52nd country to implement the EITI.

The EITI Board today approved Armenia’s EITI candidature application.

Armenia is a landlocked country situated in the southern Caucasus and bounded by Azerbaijan, Georgia, Iran and Turkey. The mining sector is the fastest growing part of the Armenia’s economy. According to the Centre for Responsible Mining, the mining industry contributed just less than 5% to country’s GDP in 2013[1].

EITI Report a stark reminder of how low oil prices affect Iraq economy.

Iraq’s parliament approved the national 2015 budget following weeks of debate about the effect that lower oil prices would have on the economy of OPEC’s second largest oil producer. Starting with an initial estimate of USD 60 per barrel (BBL) in earlier drafts, the budget was finally approved on the basis of a lower estimate, USD 56 per BBL. According to the latest report published by Iraq EITI, covering the fiscal year 2015,

The African island nation makes meaningful progress and is making information about the nascent petroleum sector available to the public.

Wednesday 8 March - The EITI Board declared that São Tomé and Príncipe has made meaningful progress in implementing the EITI Standard. Validation is the EITI’s independent evaluation mechanism.

View the full decision including the scorecard and supporting documentation

EITI Validation points the way forward for the new national body. 

Wednesday 8 March 2017 – Today the international EITI Board agreed that the Kyrgyz Republic has made progress overall against the EITI Standard but significant areas of concern needed to be addressed. Having been compliant with the EITI Rules since 2011, this is the first time Kyrgyz Republic is tested against the EITI Standard.

The country achieves meaningful progress in meeting global transparency standard.

Wednesday 8 March 2017 – At its meeting in Bogotá, Colombia, the EITI Board declared that Ghana has made meaningful progress in implementing the Standard. In doing so, it recognises Ghana’s efforts to improve natural resource governance through the EITI.

First Validation under the EITI Standard concludes meaningful progress, but more is needed.

Wednesday 8 March 2017 - The international EITI Board today recognised Mauritania’s efforts to improve natural resource governance through the EITI Standard. The Board concluded that the country had made meaningful progress against the Standard.

Validation is the EITI’s independent evaluation mechanism.

View the full decision including the scorecard and supporting documentation

Republic of the Congo’s 2014 EITI Report helps account for oil-backed infrastructure loans.

In an oil rich economy, oil proceeds become more precious to a country even as production dwindles and global prices slump, 90% of Congo-Brazzaville’s exports and 60% of its GDP comes from its oil.  Its EITI Report now accounts for a sizable share of oil revenue that does not pass through the Treasury.

Board concludes that the country has made inadequate progress against the Standard. 

Wednesday 8 March - The EITI Board has assessed that the Solomon Islands has made inadequate progress in implementing the EITI Standard. Consequently, the country is suspended from the EITI and must undertake corrective actions. This decision was made by the EITI Board on 8 March 2017 at its meeting in Bogota.

EITI Validation concludes some progress but much work remains to be done.

Wednesday 8 March 2017 – Tajikistan’s efforts to improve its natural resource governance through the EITI Standard were discussed today by the international EITI Board. The Board agreed that Tajikistan has made progress overall in implementing the 2016 EITI Standard but that significant areas of improvement remain.

Progress delayed by challenges of confidentiality agreements.

The EITI Board suspended Timor-Leste for failing to publish an EITI Report by 31 December 2016. The suspension will take effect immediately.

In taking this decision, the Board recognised the Government’s consistent commitment to the EITI. However, the publication of the 2014 EITI Report was delayed by prolonged discussions by stakeholders on reporting procedures and confidentiality agreements between the Independent Administrator