News / / 07.08.20

Radio Tamazuj: Central bank to buy gold in bid to raise revenue

The Central Bank of South Sudan will soon begin to buy crude gold from local miners, a measure designed to boost the country’s economy.

Central Bank Governor Jamal Abdalla Wani told reporters in Juba on Tuesday that the government has approved $4 million and the bank has released an additional $1.5 million for the plan.

“With that crude gold, if we have enough of it, then we can go to the next step of refining it. That means we have to get pure gold in the bank,” said Wani.

He added, “The president never disappointed us, he requested 4 million dollars to be released from the ministry of finance.”

The central bank governor said the institution’s plan came after prices of crude oil in the international market dropped, besides the negative impact of the novel coronavirus…

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