ABIDJAN - African presidents tasked with resolving Ivory Coast's crisis were due in Abidjan yesterday to propose a solution to a stand-off that has paralysed the world's biggest cocoa-producing country and killed about 300 people.

One source, who had access to preparatory talks on Sunday, said the African panel would insist that incumbent Laurent Gbagbo stand down in return for a number of guarantees to allow rival Alassane Ouattara to take charge.

There was no official statement from the leaders and Gbagbo has repeatedly rejected similar proposals.

A November 28 poll that was meant to reunite the country after a decade of economic stagnation and political crisis has instead left it as divided as ever and in economic meltdown.

Ouattara is recognised internationally as winner, but Gbagbo has refused to cede power.

Cocoa exports have dried up, pushing futures prices to fresh highs.

The leaders of South Africa, Mauritania, Chad, Burkina Faso and Tanzania met in Mauritania on Sunday to discuss proposals drafted by African Union experts on Ivory Coast.

"We could not go back on the previous decision made by the AU commission (which has recognised Ouattara as winner of the election)," said the source, who asked not to be named.

The African leaders were due to leave Mauritania yesterday.