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Ivory Coast Incumbent President Tries to Seize Control of Bank Branches

   VOA News  January 26, 2011
   Laurent Gbagbo (Dec 2010 file photo)

Photo: Reuters

   Laurent Gbagbo (Dec 2010 file photo)

   Ivory  Coast's  incumbent  leader  Laurent  Gbagbo  says he is seizing
   control  of  Ivorian  branches of the West African central bank, in an
   attempt to retain control of state finances and his hold on power.
   Mr.  Gbagbo  has ordered Ivorian staffers to answer to local officials
   and not the bank's management, which is based in Dakar, Senegal.  Mr.
   Gbagbo  needs access to government assets to pay his supporters in the
   civil service and the military.
   In a counter move, the internationally-recognized winner of November's
   presidential election, Alassane Ouattara, has ordered Ivorian branches
   of  the regional bank to be closed.  He has vowed to prosecute anyone
   who follows Mr. Gbagbo's orders.
   Saturday,  the  Gbagbo ally running the Ivory Coast branch of the bank
   resigned.
   The Central Bank of West African States revoked Mr. Gbagbo's rights to
   requisition  Ivorian  funds  in December, but Mr. Ouattara's camp says
   Mr.  Gbagbo  has  still been able to get access to those funds through
   his allies.
   Mr.  Ouattara is conducting his struggle to take power from a hotel in
   Abidjan,   where   he  is  surrounded  by  security  forces  and  U.N.
   peacekeepers.
   Mr.  Ouattara  also has called for a one-month ban on exports of cocoa
   to  try  to  starve  the  Gbagbo  camp  of  funds.   But Mr. Gbagbo's
   administration says exports will continue.

   Some information for this report was provided by AP, AFP and Reuters.

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