Sudan allows producers to export gold in anti-smuggling move

摘要

Kampala—Sudan has authorized gold companies and producers to export gold directly without going through the Bank of Sudan, in an attempt to curb smuggling of the precious metal abroad, the Higher Committee for Economic Emergencies said in a statement citing the deputy chairman of the Transitional Sovereign Council, General Mohamed Hamdan Daglo. Prior to the new regulations, Sudan’s central bank had been the sole body legally allowed to buy and export gold, and had set up centers to purchase the metal from small-scale miners. However, due to its monopoly, the bank was reportedly buying gold at a price lower than the international market price. This reportedly encouraged an estimated 70% to 80% of the country’s gold production to be smuggled abroad, depriving the government of tax income.