The International Monetary Fund (IMF) has announced preparing a workshop programme of technical assistance and education for African countries, to enable them to regulate their diamond and precious metals sectors. The IMF has also expressed its concern over the rise in ‘links between the trade in precious minerals and illicit financial flows, corruption, drug trafficking, arms smuggling and the financing of terrorism.’
It believes the programme would facilitate better regulation and order of the precious minerals sector, which in turn can help these African countries increase revenues and better their fiscal situation. Burundi, the Central African Republic, the Democratic Republic of Congo, Ivory Coast, Mali, and Togo will be participating in the workshops.