Congressional Hearing to Examine Why Many of the World's Poorest Countries Are the Richest in Natural Resources
Congressional Hearing to Examine Why Many of the World's Poorest Countries Are the Richest in Natural Resources WASHINGTON, Oct. 24 /PRNewswire-USNewswire/ -- The following is being issued by Publish What You Pay United States: WHAT: Public Hearing -- House of Representatives Committee on Financial Services Hearing entitled "Transparency of Extractive Industries: High Stakes for Resource-Rich Countries, Citizens and International Business" WHERE: 2128 Rayburn House Office Building WHEN: Thursday, October 25th, 10 a.m. BACKGROUND: Natural resource-dependent countries almost always develop more slowly than non-resource-dependent countries, are more susceptible to the outbreak of civil war (i.e., blood diamonds) and experience a high incidence of corruption. This is often known as the "resource curse." The natural resource sector, including diamonds, oil, gas and other minerals, is one of the most secretive sectors, with citizens of many countries (typically ...