Developing effective plans for capturing, managing and spending resource revenues is one of the main challenges facing resource-rich countries.
Governments must develop effective fiscal regimes which promote the dual goals of higher state revenue capture on one hand and investment attractiveness on the other. In addition, measures should be put in place to insulate themselves from volatility, promote stable and diversified economies, spend judiciously, and save and invest to promote long-term sustainable development. But to make the aforementioned possible,, the focus cannot be only on providing know how to governments; instead it is critical to also help mobilize non-state, societal and international actors to hold governments accountable and promote reforms in managing natural resource contracting process, revenue capture and efficient revenue investment and spending.
In Liberia today there is an increasing competition for access to, and control over natural resources which is putting pressure on the livelihoods of already vulnerable small-scale producers, agricultural laborers, indigenous people and the urban poor. The most vulnerable small scale and subsistence producers face competition from powerful interests for control over their land and resources and they do not have the means to improve or find alternative livelihoods. Women and youth in rural and urban areas are the hardest hit by these trends. This pressure on natural resources has dramatically increased the scale of urban growth and will exacerbate inequality.
To mitigate this IREDD will facilitate open public dialogue, sensitization, conduct surveys and monitoring exercises aimed at improving natural resource governance process. We will employ a participatory and bottom up approach through increase public participation, and advocate for open disclosure of natural resource contracts and revenues, to address identified gaps in the governance process. We will analyse the management of natural resource funds and revenue-sharing systems/fiscal regimes. We hope to promote the socioeconomic and cultural rights of affected communities, transparent management and equitable distribution of natural resource revenue.