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Sharp drop in diamond exports

    NAIROBI

    Diamond exports in August amounted to US $17.8 million, down from US $31.6 million in August 1988, Reuters said on Friday. Diamond exports have slumped since the government banned the use of dollars in commercial transactions in January. Total official exports in the first eight months of 1999 were US $209 million, down from US $298 million for the same period last year, Reuters reported, citing data from the Centre National d'Expertise (CNE), the country's precious metals valuation board. Reuters
    quoted sources in the mines ministry as saying many diamonds were being sold to traders in Angola or diverted to Brazzaville. CNE data also showed no official gold exports since February as a result of the rebel occupation of gold-producing areas.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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