Ivory Coast’s political crisis seems to be forgotten as the world’s attention has been grabbed by events in Tunisia, then Egypt and now Bahrain. (Not that the mainstream UK media include much news from Francophone countries at the best of times!) This Reuters article reports on the situation as financial chaos is added to economic pressures and political uncertainty. Life cannot be easy for Ivorians right now: they certainly need our prayers.
“Ivory Coast’s biggest bank, a unit of Societe Generale, suspended operations on Thursday, the latest in an exodus of foreign banks that is turning a political crisis into financial meltdown.
Shutters were down on branches across Abidjan, the main city, while agencies still open were swamped with customers trying to withdraw cash. Separately, cocoa farmers marched on the Ivorian offices of the European Union, whose sanctions on regulators and ports have contributed to the shutdown.
The financial system in the world’s top cocoa grower is on the brink of collapse as a result of a post-election power struggle between incumbent Laurent Gbagbo and rival Alassane Ouattara that is entering its third month.”
Read more here. Thanks to Linn Boese for highlighting this article on FB.