Zimbabwe loses over US$1.2 billion a month to diamond smugglers
- From: Bill <williamgates@xxxxxxxxxxxxx>
- Date: Sat, 25 Oct 2008 21:55:09 +0100
Zimbabwe loses over US$1.2 billion a month to diamond smugglers
http://www.apanews.net, JN/ad/APA 2008-10-25
APA-Harare (Zimbabwe) Smuggling of diamonds is costing Zimbabwe more
than US$1.2 billion a month, the country's central bank chief, Governor
Gideon Gono, told the state-run Herald newspaper on Saturday.
The governor of the Reserve Bank of Zimbabwe (RBZ), Gideon Gono, blamed
the diamond smuggling on more than 5,000 "syndicates of foreigners" and
some senior government officials who were illegally dealing in the
precious stone in Manicaland province which borders Mozambique.
"A reliable estimate shows that US$1.2 billion per month would be
realized from diamond sales in the country, enough to solve the
economic challenges the country is currently facing," he was quoted by
the state-run paper as saying.
He said Zimbabwe required at least US$100 million a month to
resuscitate its economy and overcome current shortages of fuel, food
and electricity.
Illegal diamond activities have been rife since the government allowed
people to mine the precious stone on a claim previously owned by an
international company.
The area in Manicaland's Marange district was later cordoned off by the
army and police but the illegal mining continued.
Governor Gono is also quoted by the state-run Herald newspaper as
saying that gold deliveries had dropped from 27 tonnes to a paltry five
tonnes during the past four years.
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