Postponement of 17th India International Gold Convention 2020 Due to Covid-19 (was supposed to be held on 3-5 September 2020) and will keep you updated on new dates shortly....
 You are here : Home > ETF & Others

Sudan exports 2-ton gold to improve economy

Mon July 27 2020


Sudan on Monday exported two tons of gold in a bid to provide foreign currencies for the Central Bank of Sudan and improve the status of local currency.


"We have general economic plans based on improvement of the economy and provision of decent livelihood for the citizen," Sudan's Acting Minister of Finance and National Economy, Hiba Mohamed Ali, said at a ceremony in Khartoum.


Last week, Sudan exported two tons of gold to the United Arab Emirates worth 120 million U.S. dollars.


Sudan is planing to export 2 tons of gold each week to provide foreign currencies for the central bank of Sudan after the reforms made by the higher committee for health emergencies on gold exports and prevention of monopoly.


After losing around 75 percent of its oil resources due to separation of South Sudan in 2011, Sudan started to focus on gold production to compensate for the loss of oil revenues. Enditem