The presidential transition in the Ivory Coast is becoming murkier – if it even happens at all.
The nation many believed to be on the brink of recognizing the leader who is considered the winner of November 2010 presidential elections is embroiled in a civil war, according to the Guardian newspaper of England. That leader, Alassane Ouattara, and incumbent president Laurent Gbagbo are under secure protection while forces loyal to them both are committing violent acts of war as U.N. and French troops attempt to restore peace, ease in the president-in-waiting and escort out the incumbent.
Once viewed with enthusiasm as a refreshing move from dictator to democrat, the ascension of Ouatarra is tainted as forces loyal to him have killed civilians, raped supporters and burned villages in the nation that relies heavily on cocoa futures as a critical lynchpin. The soft commodity accounts for about one-third of the export revenue stream and has navigated the tumult while serving as a pawn of both leaders.
Gbagbo was last week negotiating his departure but those talks have not produced concrete steps and all but collapsed, according to some accounts.
Shortly prior to 8:45 a.m. on Monday, cocoa futures were up 2.91 percent, an $87 climb to $3,072 per metric ton.
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