Madagascar’s authorities have been able to seize an emerald rock weighing close to 300 kilograms that they have alleged was hidden inside the presidential palace. The gem will be auctioned off, and the proceeds will be used to replenish the depleted state coffers, the nation’s new ruler said. Emerald can fetch about $80 a gram in international markets, according to Mines Minister Carl Andriamparany.
“We discovered this national treasure upon entering the palace,” President Michael Randrianirina told the national broadcaster. “We don’t know why it was hidden here, but we are simply glad to show that we are ready to live with transparency,” and will sell it, he said.
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Randrianirina, who came to power in a coup last month, has said that the government’s coffers are “virtually exhausted” and this new administration is working to restore international recognition to unlock foreign financing.
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How Long was Emerald at the presidency
The emerald has been at the presidency since 2009 and was a part of the national heritage, according to Soalihu Mosa, a senior adviser in the previous administration led by President Andry Rajoelina.
Rajoelina was overthrown following three weeks of mass protests sparked by a shortage of necessities, allegations of corruption, and anger over the wealth of the country’s elite.