Guinea-Bissau's President dissolves parliament after coup bid

The President of Guinea-Bissau Umaro Sissoco Embalo dissolved the parliament after an attempted coup in the West African nation.President Embalo issued a decree on Monday, saying that the date of forthcoming legislative elections will be set at the opportune moment, in line with the constitution.Last year, a similar attempt was made to destabilise the government. President Umaro Sissoco Embalo had said that three people previously arrested by U.S. authorities for drug trafficking were behind an attempted coup last week. Former navy admiral Bubo Na Tchuto and his aides Tchamy Yala and Papis Djeme were arrested in 2013 in a high-profile U.S. drug sting on a luxury yacht off the West African coast for conspiring to ship cocaine into the United States.Guinea-Bissau has seen around 11 successful or failed coups since gaining independence from Portugal in 1974. It is a major transit point for Latin American cocaine headed for Europe, which has contributed to its instability.With inputs from agencies.