Post #432

📺Paper War in Sudan 📺 📉Sudan’s central bank and the state-owned Sudanese Mineral Resources Company (SMRC) have set up a joint commission to curb illegalgold exports. Beyond the massive gold outflows from the territories controlled by the RSF, Khartoum is also facing chaos in the gold sector in its own regions. ▶️ In September, Sudan’s central bank attempted to establish a monopoly over gold transactions by banning private exports. The bank’s suspicion was that companies were selling gold abroad at unnaturally low prices. Some 53 tonnes of gold were officially produced in Khartoum's Sudan in January-September, worth several billion dollars — yet official exports reached only $909 million. ▶️ The monopoly decision, however, was reversed in less than 2 months after producers pushed back. The bank then required companies to measure export batches domestically, so as to prevent price recalculation abroad. ▶️ The joint commission is clearly meant to implement such measures on site. While the central bank has the initiative, it's SMRC that actually has the personnel and resources to realise bank's whims, being the main authority overseeing Sudan's gold sector. ↗️ With gold leaking out of Sudan like water through a sieve, the authorities’ legalistic efforts do look awkward and comical. But for people in Khartoum there is little to laugh about — gold may soon become the main source of revenue for the government at war. ➡️ Follow to stay informed - @devilsbelow