Extractive Industries Transparency Initiative (EITI)
The Extractive Industries Transparency Initiative (EITI) is a voluntary initiative through which countries commit to publish reports on how the government manages the oil, gas, and mining sectors. These reports include a reconciliation of revenues paid by extractive companies and revenues received by governments. The process is managed in each country by a multi-stakeholder group of government, civil society, and company representatives.
The U.S. Government has been a strong supporter of EITI since its founding in 2003, recognizing that transparency is a critical component of sound governance in countries’ extractive sectors. The Department of State serves on EITI’s Board, representing the United States as a Supporting Country and, through USAID, contributes to bilateral and multilateral EITI implementation efforts.
On November 2, 2017 the U.S. Department of the Interior informed EITI that the United States will no longer implement the EITI Standard domestically. For more information, please visit the Department of the Interior’s EITI website (https://www.doi.gov/eiti).
The Department of State will continue to lead the United States’ commitment to the EITI as a Supporting Country, a role that the United States has played since the beginning of the initiative. In conjunction with the USAID, the Department of State will continue to promote transparency, fight corruption, and ensure good governance, as well as to support country-level EITI implementation. We continue to value the EITI as a critical tool to promote transparency, increase competitiveness, and combat corruption around the world.
State Department Fiscal Transparency Report
Fiscal transparency fosters greater government accountability by providing a window into government budgets for citizens, helping citizens hold their leadership accountable, and facilitating public debate. Fiscal transparency represents a critical aspect of effective public financial management, builds market confidence, and underpins economic sustainability. Improving fiscal transparency has clear economic and development benefits. Transparent fiscal systems provide information to legislatures, markets, civil society, and citizens that have a stake in fiscal decision making processes. Governments that operate with greater fiscal transparency enjoy better access to domestic and international credit markets, are less prone to destabilizing debts and deficits, and are better able to address fiscal risks. Fiscal transparency facilitates international observation of fiscal developments and helps mitigate the contagion effects of economic shocks.
Since 2008, the State Department has conducted fiscal transparency reviews of governments receiving bilateral allocations of assistance funded under the State Department Foreign Operations, and Related Programs Appropriations Acts. Since fiscal year 2012, the Department has annually published fiscal transparency reports, as required by annual appropriations acts. The release of the report is an opportunity for citizens to consider their government’s level of and approach to fiscal transparency, and to engage in discussion of how to improve budget transparency, public participation in the budget process, and fiscal policy.
The State Department’s Fiscal Transparency report is attached here http://www.state.gov/e/eb/ifd/oma/fiscaltransparency/index.htm