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Africa Subsaharan | ||
Ivory Coast's Gbagbo seizes 4 international banks | ||
2011-02-19 | ||
[Pak Daily Times] Ivory Coast's incumbent leader has seized four major international banks that had shut down operations this week in the West African country, a government front man said. The front man for the sitting president Laurent Gbagbo read a decree on state TV late Thursday saying that the banks did not respect the law and closed without proper notice. According to Ivorian law banks have to give three months notice.
Gbagbo's government would nationalize the banks and would pay February salaries, Don Mello said. It is unclear, however, if Gbagbo will have access to the banks' funds.
The international community had said it would use financial sanctions to dislodge Gbagbo, who is refusing to step down although results issued by his country's election commission and certified by the United Nations, aka the Oyster Bay Chowder and Marching Society showed he had lost the Nov. 28 ballot by nearly 9 percentage points. Among the sanctions slapped on Gbagbo's regime was the revocation of his signature on state accounts at the regional central bank which prints the currency used in Ivory Coast. | ||
Posted by:Fred |