Guinea-Bissau approves $200 million budget, twice what it can afford
The European Union, the United States and the United Nations all withdrew financial backing following a coup in April last year that overthrew the regime of Carlos Gomes Junior. Guinea-Bissau's parliament approved a budget of more than $200m on Tuesday, despite having only half of that in its coffers, acknowledging that the rest would have to come from international aid. Members of the National Assembly voted to cover the shortfall from their global partners even though most have suspended aid to the impoverished west African nation since a military coup last year.
The chronic volatility has fanned poverty in the country of 1.6 million people with few resources other than cashew nuts and fish, attracting South American drug cartels which have turned it into a hub of cocaine-trafficking for west Africa. It has seen a series of military coups attributed largely to the unprecedented bloating of the army after the war.... Read the full, comprehensive news article and discuss at The New Age Online