Wednesday, January 17, 2007

Mint condition

To help solve the prevailing seasonal glitch in the state of Guatemalan happiness the Central Bank has announced that a new shipment of currency has arrived from foreign mints. (Canada, England, Germany and France all print Quetzales.) $20m has already turned up with a further $100m due by the end of this week.

The Central Bank had earlier apologised for forgetting to order new notes to replace those it had earlier destroyed. The resulting cash crisis provoked a major capital flight, exacerbated by the collapse of Bancafe.

Telediario reports today that the Superintendencia de Bancos is investigating the role of a "ghost company" in the collapse last week of the Banco de Comercio.

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