Guinea Junta Orders Central Bank to Freeze Gov’t Accounts

Military Junta in Guinea which snatched power from President Alpha Conde on Thursday has ordered the central bank and other banks to freeze all government accounts

A group of special forces soldiers on Sunday said they dismissed President Alpha Conde over concerns about poverty and endemic corruption.

A junta spokesperson announced on the national broadcaster that the banking freeze was aimed at “securing state assets”

According to him, “this includes public administrative and commercial establishments in all ministries and the presidency, presidential programmes and projects, members of the outgoing government as well as senior officials and administrators of state financial institutions,”

A mining boom propelled strong economic growth during Conde’s decade in power, but surveys suggest Guineans thought corruption has increased in recent years, while dissatisfaction with the economy and living conditions has also risen.

A delegation of West African leaders was due in Guinea on Friday to assess the situation following the coup that has raised fears of a to backslide toward military rule in the region.

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