Influential Actors Allegeedly Steal Billions from Sudan's Gold Reserves

Sudan's Gold Exporters Division is speaking out against influential actors who are allegedly draining the country's gold wealth by exporting it outside official channels.

According to Abdelmoneim Siddig, head of the Gold Exporters Division, Sudan produces more than 70 tonnes of gold a year worth an estimated $8 billion, but only about $2 billion reaches the state treasury.

Siddig accused the Central Bank of Sudan of buying gold at high prices, which encourages exports outside official channels and puts further pressure on the Sudanese pound.

The practice is not only hurting the country's economy but also driving up living expenses for citizens, according to Siddig. He warned that if current policies are not reversed, the crisis will worsen, leaving citizens to bear the cost.