Wednesday, August 13, 2003

Ivory Coast: audit on whether cocoa money bought arms

Starting today, independent auditors will look to see if any of the money from cocoa sales was used to fund the civil war in Ivory Coast. The audit was requested by the government (most likely under pressure from donor countries).
The audit by a team employed by the World Bank and European Union would ensure a better, more equitable distribution of the cocoa money to farmers, the donor source said.

... The last audit of the cocoa sector, launched in July last year, alleged that funds for farmers had been illegally transferred from the West African central bank to a state Ivorian bank. The government flatly rejected the accusations and the probe was shelved.