Ivory Coast Gbabgo in power, but West tries financial end

Post date: Jan 4, 2011 7:52:27 AM

Update Jan-7-2010:

US bars financial dealings with Ivory Coast president Gbagbo

by Adam Szubin, director of Treasury's Office of Foreign Assets Control

source:reuters.com

Ivory Coast president Laurent

Gbagbo facing crisis as cash

noose tightened

• Banks and businesses will end his rule, say rivals

• Leader remains defiant despite African pressure

End of CFA ?

Blé Goudé even made the unlikely claim that Gbagbo's government was considering pulling out of the regional CFA franc. "Ghana, Nigeria and Guinea have their own currencies, and they are still functioning," he said. "For our economic independence, our country will soon have its own currency."

Blé Goudé's comments were echoed in a letter posted on Gbagbo's Facebook page today.

cocoa and oil $2bn / year

He still has other sources of income: he retains control of the lucrative oil and cocoa sectors. Officially, Ivory Coast produces 60,000 barrels of crude a day, but real output may be double that. According to the IMF, revenues from oil sales already exceed income from cocoa bean exports, which bring in an estimated $1bn a year.

source: guardian.co.uk

ECOWAS and AU

The leaders who travelled to Ivory Coast were Presidents Boni Yayi of Benin, Pedro Pires of Cape Verde and Ernest Bai Koroma of Sierra Leone - representing the Economic Community of West African States (Ecowas) - and Kenyan Prime Minister Raila Odinga - representing the African Union (AU).

Gbagbo Facebook profile:http://www.facebook.com/pages/LAURENT-GBAGBO/29860961204?filter=2

Gbagbo Facebook wall: (news)

http://www.facebook.com/pages/LAURENT-GBAGBO/29860961204?v=wall