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Court revokes writing off
BDL obligations to banks
Provision was key to government recovery plan
The State Council has annulled the decision of the Council of Ministers to write off a big chunk of the financial obligations in foreign currencies that the Central Bank (BDL) owes to the banks.

The decision was part of the governmentís financial sector recovery strategy and aims to reduce the deficit in BDLís equity and close its net open foreign exchange position. The State Councilís verdict came in response to a request submitted by the Association of Banks (ABL) to revoke the Cabinetís decision.

The banksí foreign currency pl
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Total investment of $7 million
FINANCE
$34 million plan to restore fiscal management functions
Disbursements to be linked to performance
Depositors allowed to withdraw $150 per month
From foreign currency accounts opened since onset of crisis
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Rally anticipates decision about lollar deposits
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