IMF Report: CAR Govt Plans Set-Up Of Mining Chamber

25/10/2015 11:24

In a recently released report the International Monetary Fund (IMF) details the request by Central African Republic authorities for additional IMF funds under the Rapid Credit Facility (RCF). In addition to various policy recommendations, the report mentions (Box 2, page 9) the CAR government is looking at measures to enable the local diamond industry to benefit the economy. "Measures include: combating the widespread fraud and the clandestine extraction of diamonds through enhanced controls, strengthening the regulatory framework, reorganizing the diamond sector with the introduction of a mining chamber, eliminating the administrative pricing mechanism, and shifting to a market-determined price structure."