Thursday, February 17, 2011

Ivory Coast rush to withdraw bank cash (bank run)

"Ivory Coast's farmers provide a third of the world's supply of cocoa" Long queues have formed at banks in Ivory Coast amid fears of a banking collapse as the Standard Chartered bank said it was suspending operations. It is the fourth bank to close this week because of turmoil following November's disputed presidential polls. Earlier it was reported that West Africa's BRVM stock exchange, based in Abidjan, had suspended its operations. BRVM staff told the BBC they were working, but it was not clear if they were actually able to do transactions.

No comments: