Diamonds and conflict

Abstract

International efforts to curb the trade in diamonds from conflict areas are gaining momentum as fighting for control of diamond mines in countries such as Sierra Leone, Angola and the Democratic Republic of Congo attracts increasing global attention. The Group of Eight (G-8) is likely to endorse new initiatives at a meeting of their foreign ministers in July. But given the potential profits and the endemic official corruption of some diamond-producing countries, it is far from certain that any new measures would eradicate the problem. Ill-considered moves could have a harmful impact on the economies of stable countries where the overwhelming majority of diamonds are mined.