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IMF Launches Program to Stem Laundering Through Precious Metals
By Colby Adams
printAn intergovernmental group has launched a program to help 16 sub-Saharan African countries tamp down money laundering and terrorist financing through the diamond and gold trade. The International Monetary Fund (IMF) disclosed earlier this month that it will provide technical training to the countries, which contribute to Africa's $25 billion annual gold and diamond market. IMF officials met with representatives from six francophone African countries for a five-day workshop following the program's launch. Until now, the international community's scrutiny of Africa's precious metal industry focused primarily on preventing the illicit sale of diamonds looted from African war zones to finance...
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