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Madagascar Cracks Down on Gold Smuggling as Central Banks Seek Market Control

Madagascar Cracks Down on Gold Smuggling as Central Banks Seek Market Control

Author:

Global Cryptocurrency

Published:

2026-01-02 03:38:02

18

3

BTCCSquare news:

Madagascar's central bank governor Aivo Andrianarivelo reveals that criminal networks are smuggling nearly 20 tonnes of Gold annually—worth $2.8 billion—using aircraft and sophisticated logistics. The illicit trade deprives the state of revenue while fueling environmental damage and human rights abuses.

Gold's 60% rally in 2025 to $4,300/oz has intensified efforts by central banks worldwide to reclaim control of domestic markets. Madagascar now joins this trend, offering regulated purchase channels to small-scale miners traditionally reliant on smuggling networks.

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