- Ivory Coast (population 20.6 million) received nominal
independence from France on 7 August 1960. During the next 20 years it
achieved a period of phenomenal economic growth with an annual increase
in GDP of 10%. The world's largest exporter of cocoa, pineapples and palm
oil, it also became the third largest exporter of coffee. This period was
known as the Ivoirean Miracle.
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- In the 1980's world-wide recession precipitated a collapse
in prices, aggravated by a persistent drought. By 1987 Ivory Coast had
incurred a foreign debt of $14 billion with annual interest thereon of
$1.4 billion equivalent to 2/3rds of the annual budget! The IMF subsequently
moved in and imposed a structural adjustment programme. The usual punitive
conditions that public sector salaries, social services and infrastructure
programmes be slashed, were inflicted. Living standards dropped in order
to ensure that interest on the loans created out of nothing by European
banks would be paid on time.
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- Since then this foreign debt has hampered Ivory Coast's
economic development and repayments of capital have had to be deferred
at regular intervals. During the past ten years GDP growth has limped along
at approximately 1% p.a.
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- In October 2000 Laurent Gbagbo, leader of the Ivoirean
Popular Front Party, was elected as President. No election took place in
2005 as a civil war was in progress there is a north/south divide
of Muslims and Christians respectively. Prior to the 2010 election Gbagbo
gave notice that he intended to end Ivory Coast's financial servitude to
France.
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- Currently Ivory Coast belongs to the Central Bank of
West African States (CBWAS). All the bank's foreign reserves are deposited
at the Banque de France, which has been controlled by the Rothschilds since
they plotted Napoleon's demise in 1815. (Napoleon had founded the bank
in 1800 as a state bank, which issued all government loans free of interest).
Furthermore 85% of Ivory Coast's export earnings have to be paid over to
the Banque de France to be invested in French government bonds.
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- In the election of 2010, massive fraud took place in
the northern part of the country. Eventually the Constitutional Council
awarded the election to Gbagbo, who obtained 51% of the votes. The "world
community" insists that his opponent Alassane Outtara is the winner.
His father comes from Burkino Faso and is thus half foreign, but more ominously,
he is a former Deputy Managing Director of the IMF and governor of the
CBWAS. Gbagbo has rightly referred to Ouattara and the rebels as stooges
of former colonial power France.
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- On 23 December 2010 Gbagbo appropriated 153 billion West
African CFA (Communaute Financiere Africain) francs for running the country
from the Abidjan branch of CBWAS. Financial sanctions were immediately
imposed and on 1 February 2011 Ivory Coast was forced to default on a Eurobond
loan of $2.3bn bearing interest at a rate of 10.18% p.a.
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- On 4 April 2011 UN and French forces destroyed much
of Gbagbo's heavy artillery and the main broadcasting station in Abidjan.
On 11 April 2011 "white mercenaries" (code for French troops),
stormed his presidential residence and forced him to capitulate. His current
whereabouts are unknown. Ivory Coast will become another victim of the
New World Order, and the international bankers will once again be able
to collect interest on their fictitious loans.
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