Tuesday, February 22, 2011

U.N. Banking on Change in the Ivory Coast

Invasion must have been called off.

"Ivory Coast orders UN radio off air" by Associated Press / February 11, 2011

ABIDJAN, Ivory Coast — United Nations radio was ordered off the air in Ivory Coast by a regulatory board loyal to incumbent leader Laurent Gbagbo, though the station refused to comply yesterday....

Work continued as normal at the station’s headquarters yesterday, said UN radio director Sylvain Semilinko, adding that preparations were being made in case their signal was jammed....

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"Ivory Coast bank shuts as fears grow" by Associated Press / February 17, 2011

ABIDJAN, Ivory Coast — A third bank shut its doors yesterday amid a political crisis in Ivory Coast, as residents in the commercial hub lined up at banks to try to withdraw their savings amid rumors of a cash shortage.... 

Two months after a contested presidential election that led incumbent leader Laurent Gbagbo to refuse to cede power, international financial pressure supporting his opponent, Alassane Ouattara, has finally made its presence felt.

A manager at the Ivorian Chamber of Commerce and Industry who requested anonymity said he was certain nearly every bank would close in coming days.

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"Ivory Coast’s biggest bank, 8 others, close" by Associated Press / February 18, 2011

ABIDJAN, Ivory Coast — Nine banks, including Ivory Coast’s largest, shut down their operations this week. The international community had said it would use financial sanctions to dislodge Laurent Gbagbo.

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"Disputed Ivory Coast leader seizes 4 banks" by Associated Press / February 19, 2011

ABIDJAN, Ivory Coast — Ivory Coast’s incumbent leader, who is clinging to power, seized four major international banks yesterday that had closed their operations earlier this week, attempting to pay civil servants amid a deepening liquidity crisis.

Sitting president, Laurent Gbagbo has already nationalized the central bank, the electricity company, and the stock exchange in an attempt to keep the Ivorian economy running amid increasing international financial pressure.

The international community had said it would use financial sanctions to dislodge Gbagbo.  

Yeah, I saw that.

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Also see: Lathering Up the Ivory Coast For Invasion