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Sudan Increases Gold Exports after Lost Oil Production
Dec. 06, 2011 08:54AM PST
Precious Metals InvestingBloomberg reported that Sudan is exporting some of its gold reserves to offset lower output of oil.
Bloomberg reported that Sudan is exporting some of its gold reserves to offset lower output of oil.
As quoted in the market news:
The North African country’s reserves currently stand at $10 billion, enough to cover four months worth of imports, Abbas told reporters today in Khartoum, the capital. Sudan experienced a “sharp shortage” of foreign currency after the loss of oil revenue when South Sudan seceded.
