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The original was posted on /r/worldnews by /u/DoremusJessup on 2024-05-31 04:13:33+00:00.
Tens of billions of dollars in gold flows illegally out of Africa each year, a new report says
Submitted 2 years ago by bot@lemmit.online [bot] to worldnews@lemmit.online
https://apnews.com/article/gold-smuggling-africa-uae-switzerland-e1a614c465766f1c3e90fb9e5a5167a2
autotldr@lemmings.world [bot] 2 years ago
This is the best summary I could come up with:
DAKAR, Senegal (AP) — Billons of dollars in gold is smuggled out of Africa each year and most of it ends up in the United Arab Emirates, where it is refined and sold to customers around the world, according to a report published Thursday.
Over $30 billion worth of gold, or more than 435 metric tons, was smuggled out of the continent in 2022, according to the report published by Swissaid, an aid and development group based in Switzerland.
The report said the gap between UAE imports and exports from African countries has widened over the years, meaning that the amount of gold smuggled out of Africa appears to have increased over the past decade.
A official within the UAE government’s media office said the country has taken significant steps to address concerns around gold smuggling and the risks it poses.
The continued growth of the UAE’s gold market reflected the confidence of the international community in its processes, the official said, responding on behalf of the country’s press office without providing further identification.
Among its recommendations, it called on African states to take steps to formalize artisanal and small scale mining and reinforce border controls.
The original article contains 635 words, the summary contains 196 words. Saved 69%. I’m a bot and I’m open source!