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Caracas, 18 Jun. ABN.- Venezuelans can feel relaxed and have confidence in country's banking system, because the Government of Venezuela is making all the efforts to honor the commitments with depositors, emphasized the Minister of Public Banking Humberto Ortega.

The Minister ratified this Friday the soundness of the Venezuelan financial system during his participation in a local TV talk-show.


He made a call to depositors to not fall into the game of rumors that have been generated by the intervention of the Banco Federal. “People do not have to believe in rumors because we have firm banks,” he reiterated.

Likewise, he said that the Government warned public and private institutions to avoid irregular administration of their resources that could affect Venezuelans.

“We invite Venezuelans to have confidence in their institutions and banking system; to not repeat rumors that destabilize citizens; to trust in the public and private banking; there is no reason to fear. You can trust, because that is the reason for which there are supervising entities in charge of causing a stir in all those that want to detour,” he underscored.

In this regard, Ortega reiterated that the Deposits Guarantee and Banking Protection Fund (Fogade) will pay off the savings to the depositors of the Banco Federal from June 25, giving priority to the people above sixty years old and from July 2 for the rest of depositors.

Fogade will return savings up to 30,000 bolivares (US$ 11,538), as established by the Law, to 273,000 people.

The Banco Federal was intervened this week to protect its clients from its critical financial condition, after not paying attention to the suggests made by the National Superintendence of Banks and Other Financial Institutions (Sudeban).