Central African Republic Wants Diamond Export Ban Lifted

Reuters reported that the Central African Republic is calling for the ban on its diamond exports to be lifted; the country claims that it needs the tax revenue from sales to help its economy. Certified diamond trading with the country was suspended in May by the Kimberley Process.

As quoted in the market news:

‘Diamonds have nothing to do with the situation in Central African Republic,’ said Herbert Goyan Djono-Ahaba, mines minister in a transitional government meant to lead the country to fresh elections.

‘Our country was suspended based on risks but there was no proof that diamonds financed the war,’ he told Reuters in an interview on Thursday.

Diamonds are an important source of revenue for the government in Bangui and the ban makes interim president Michel Djotodia’s task of staging polls even more daunting.

Click here to read the full Reuters report.