Kenya

Managing public expectations is one of the toughest challenges that governments face now that commodity prices have dramatically declined. A gathering earlier this month in Tanzania brought together public officials from 15 emerging producers to discuss the implications of the price drop on their strategies.

In the latter part of 2014 global oil prices fell at one of the most rapid paces in history. In Ghana this exposed a precarious fiscal situation that has undermined the high ambitions expressed by Ghanaians just a few years ago. Countries like Uganda and Tanzania that are currently shaping policies and laws to manage “resource curse” pressures can surely learn from Ghana’s troubling experience.

Just months after Kenya discovered commercial oil in 2012, the government called for the establishment of a natural resource fund (a kind of sovereign wealth fund) to save oil revenues for future generations...