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Article

2 Mar 2009

Author:
Revenue Watch

Getting a Better Deal from the Extractive Sector: Concessions Negotiation in Liberia, 2006-2008

This comprehensive report...demonstrates the need for more equitable terms in natural resource contracts and the pivotal role that the contract process can play in economic recovery and development. In 2006...the government of Liberia conducted a review and renegotiation of its contracts with the Firestone rubber company and the ArcelorMittal steel company. The resulting amended contracts offered Liberia significant gains, in areas from taxes and corporate governance rules to environmental and social issues such as housing and education...the report includes forewords by President Ellen Johnson Sirleaf of the Republic of Liberia and Open Society Institute chairman George Soros.