Venezuela's government has suspended a state intervention of top private ba...
FILE PHOTO: People queue to withdraw cash from the automated teller machines at a Banesco bank branch in Caracas, Venezuela August 20, 2018. REUTERS/Carlos Garcia Rawlins
The government of President Nicolas Maduro last May said it was taking over Banesco for “attacks” against the country’s rapidly depreciating bolivar currency. It arrested 11 top executives and held them for nearly two weeks. The government, which has maintained a currency control system since 2003, last year eliminated rules barring the purchase and sale of foreign currency in a parallel market.
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