{"id":14553,"date":"2019-11-27T06:39:48","date_gmt":"2019-11-27T06:39:48","guid":{"rendered":"https:\/\/www.iwacu-burundi.org\/englishnews\/?p=14553"},"modified":"2019-11-28T07:57:51","modified_gmt":"2019-11-28T07:57:51","slug":"only-burundi-central-bank-to-buy-and-sell-gold","status":"publish","type":"post","link":"https:\/\/www.iwacu-burundi.org\/englishnews\/only-burundi-central-bank-to-buy-and-sell-gold\/","title":{"rendered":"Only Burundi Central Bank to buy and sell gold"},"content":{"rendered":"<p><strong>The Minister of Energy and Mines has banned any gold business in the country. Only Burundi Central Bank is allowed to buy and sell gold. A local corruption watchdog applauds the decision but doubts its implementation. <\/strong><\/p>\n<div id=\"attachment_12236\" style=\"width: 480px\" class=\"wp-caption alignleft\"><img aria-describedby=\"caption-attachment-12236\" decoding=\"async\" loading=\"lazy\" class=\" wp-image-12236\" src=\"https:\/\/www.iwacu-burundi.org\/englishnews\/wp-content\/uploads\/2019\/04\/Come-manirakiza.jpg\" alt=\"\" width=\"470\" height=\"270\" srcset=\"https:\/\/www.iwacu-burundi.org\/englishnews\/wp-content\/uploads\/2019\/04\/Come-manirakiza.jpg 800w, https:\/\/www.iwacu-burundi.org\/englishnews\/wp-content\/uploads\/2019\/04\/Come-manirakiza-300x173.jpg 300w, https:\/\/www.iwacu-burundi.org\/englishnews\/wp-content\/uploads\/2019\/04\/Come-manirakiza-768x442.jpg 768w, https:\/\/www.iwacu-burundi.org\/englishnews\/wp-content\/uploads\/2019\/04\/Come-manirakiza-600x345.jpg 600w\" sizes=\"(max-width: 470px) 100vw, 470px\" \/><p id=\"caption-attachment-12236\" class=\"wp-caption-text\">Come Manirakiza, Minister of Energy and Mines: \u201cThe purchase and sale of gold by shop counters is now suspended,\u201d<\/p><\/div>\n<p>\u201cThe purchase and sale of gold by shop counters is now suspended,\u201d said Come Manirakiza, Minister of Energy and Mines in a press release issued on 25 November.<br \/>\nHe says \u201conly the Burundi Central Bank (BRB) buys gold produced by cooperatives and mining companies.\u201d<\/p>\n<p>Mr Manirakiza urges shop counters having gold in their stocks to sell them immediately to the national bank.<\/p>\n<p>Gabriel Rufyiri, chairman of OLUCOME, a local corruption watchdog, applauds the government\u2019s decision. He believes it will revalue the Burundi currency.<\/p>\n<p>He also says that this measure will allow BRB to build up gold reserves.<br \/>\n&#8220;I think the Minister made this decision to fight against the mineral fraud reported in the country in order to repatriate foreign currencies resulting from the sale of gold,&#8221; says OLUCOME chairman adding that the new measure will allow the government to have trade balance.<\/p>\n<p>Mr Rufyiri, however, says that this measure violates the principle of free competition. He explains that some foreign investors operating in mineral sector risk going back to their counties of origin.<\/p>\n<p>He is also concerned that gold fraud may intensify. \u201cIt is a good measure but it is taken hastily. It lacks accompanying measures to be implemented. The situation may get worse as gold is sold by high personalities,\u201d says OLUCOME chairman.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Minister of Energy and Mines has banned any gold business in the country. Only Burundi Central Bank is allowed to buy and sell gold. A local corruption watchdog applauds the decision but doubts its implementation. \u201cThe purchase and sale of gold by shop counters is now suspended,\u201d said Come Manirakiza, Minister of Energy and [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":12236,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[8,670],"tags":[735,693],"_links":{"self":[{"href":"https:\/\/www.iwacu-burundi.org\/englishnews\/wp-json\/wp\/v2\/posts\/14553"}],"collection":[{"href":"https:\/\/www.iwacu-burundi.org\/englishnews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.iwacu-burundi.org\/englishnews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.iwacu-burundi.org\/englishnews\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/www.iwacu-burundi.org\/englishnews\/wp-json\/wp\/v2\/comments?post=14553"}],"version-history":[{"count":1,"href":"https:\/\/www.iwacu-burundi.org\/englishnews\/wp-json\/wp\/v2\/posts\/14553\/revisions"}],"predecessor-version":[{"id":14554,"href":"https:\/\/www.iwacu-burundi.org\/englishnews\/wp-json\/wp\/v2\/posts\/14553\/revisions\/14554"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.iwacu-burundi.org\/englishnews\/wp-json\/wp\/v2\/media\/12236"}],"wp:attachment":[{"href":"https:\/\/www.iwacu-burundi.org\/englishnews\/wp-json\/wp\/v2\/media?parent=14553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.iwacu-burundi.org\/englishnews\/wp-json\/wp\/v2\/categories?post=14553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.iwacu-burundi.org\/englishnews\/wp-json\/wp\/v2\/tags?post=14553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}