Extractive Industries Transparency Initiative (EITI): Expanding the Boundaries of Informational Openness of Companies
Growing revenues from the extraction of natural resources and problems of poverty formed the basis of the proposals for the expansion of the borders of transparency. This will facilitate the implementation of the so-called extractive industries transparency initiative (EITI).
For developing economies, the nurturing of the initiative for now is more of a prospect. The lack of developed institutions will not allow controlling the credibility of the changes, and the expansion of the boundaries of information transparency will come across the undesirable international legal consequences of participation in the EITI.