Bolivians Retired $200 million from banks

The government reported today that Bolivians withdrew at least $200 million from banks for fear of retention of deposits and a sharp appreciation of the Bolivian currency.

The major withdrawal took place on December 29, despite Evo Morales had assured that there would not be any retention of deposits.

According to the government, the cause of the withdraw of money was because the cement businessman, and opposition Samuel Doria Medina, head of the National Unity force, spoke of rumors about the strong appreciation of the Bolivian currency against the dollar and caused that savers withdraw their dollars.

The massive withdrawal of money came after the President’s announcement of raising the cost of fuel between a 57% and 82%, a week of social protests forced him to not implement these measures.

The Presidency Minister, Oscar Coca, said today at a press conference that the government “is in the process of clarification,” and identify the sources of the rumor about the retention of money and will be punished according to law.

Source: EFE