Liberian Cease Fire Signed, President Taylor to Step Down

As news of the cease-fire spread through the country, thousands of people in the war torn Liberia celebrated in the streets and markets. The signing of the cease-fire agreement yesterday in Ghana between the government and two rebel groups is signaling the end of the 14-year civil war.

The diamond rich country will also see President Charles Taylor, who was recently indicted for war crimes, step down as a new government will be established. The agreement also calls for a month of peace talks and disarmament of the warring factions.

United Nations Secretary-General Kofi Annan today called on the parties to now build this momentum and create favorable security conditions throughout the country that will permit the immediate delivery of humanitarian aid to desperate civilians.

Currently the country is under a diamonds trade embargo set forth by the UN Security Council. If peace and orderly governing returns to the country, sanctions are expected to be lifted by the body, allowing for normal international trade. The country will also need to abide by the Kimberley Processes Certification Scheme to be able to export rough.