Jump to navigation

Vol 53 No 24

Published 30th November 2012


Sudan

The new gold rush

Khartoum’s new gold mining operations may alleviate its worsening foreign exchange crisis but they will increase financial instability in the medium term. As the world gold price moves steadily upward, old workings are coming back to life. In Sudan, gold has been mined since the time of the Pharaohs, who shifted from silver and set the first international gold standard

Sudan’s economy is in a bad way since it lost 75% of its oil revenue in its quarrel with South Sudan. This week, it refused to implement September’s agreement to get oil flowing again. As economic conditions decline further – annualised inflation was over 45% last month – and rumours spread that President Omer Hassan Ahmed el Beshir is fatally ill, fissures are opening up in the regime.

End of preview - This article contains approximately 1591 words.

End of preview

Subscribers: Log in now to read the complete article.

Account Holders: Log in now and use your Account Credit to buy this article. No Credit? Top up your Account now.


If you have a print subscription already, click here for a password that gives you full access to the website.

If you are logged in, but still cannot access the full text of this article, email customer services or telephone us on +44(0)1638 743633.