The big news in this part of the world (West Africa) is the recent democratic election in Cote D’Ivoire, which saw the anointing of not one but two presidents. The incumbent president, who has led the country for 10 years and is constitutionally barred from seeking a third term in office, is refusing to step down after a decisive 54-46 loss to Alassane Ouattara, an economist and technocrat who also happens to be both a Muslim and a leader of the rebel groups in the north. The international community has unanimously rallied behind Ouattara and called for Gbagbo to step aside. The World Bank has suspended aid to the country, and Ouattara has called for the Central Bank to stop releasing money as a way to “starve the beast,” and turn hungry soldiers against the incumbent president. Unfortunately, with 173 people killed so far in the post-election violence, analysts are predicting the country is going to slide into another civil war.
Crisis in Cote D’Ivoire: How Political Instability Alters Trade Patterns