{"id":25398,"date":"2023-04-27T01:05:32","date_gmt":"2023-04-27T01:05:32","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/bolivia-takes-control-of\/"},"modified":"2023-04-27T01:09:27","modified_gmt":"2023-04-27T01:09:27","slug":"bolivia-takes-control-of","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/bolivia-takes-control-of\/","title":{"rendered":"Bolivia takes control of Banco Fassil, executives arrested"},"content":{"rendered":"<p>LA PAZ (Reuters) &#8211;     Bolivia&#8217;s government took control of one of the country&#8217;s largest banks, Banco Fassil, a senior government financial official said on Wednesday, and police arrested several executives for alleged mismanagement.<\/p>\n<p>&#8220;Mismanagement, unhealthy practices have caused a crisis,&#8221; the executive director of Bolivia&#8217;s Financial System Supervision Authority (ASFI), Reynaldo Yujra, told reporters in the city of Santa Cruz.<\/p>\n<p>Dozens of police were stationed at Banco Fassil&#8217;s 185 branches across Bolivia on Wednesday, authorities said.<\/p>\n<p>Banco Fassil President Ricardo Mertens, General Manager Jorge Arturo Ch\u00e1vez and another executive, Hernan Suarez, were arrested late Tuesday, while a fourth, Hermes Saucedo, turned himself in early Wednesday morning, according to the Santa Cruz attorney general&#8217;s office.\u00a0<\/p>\n<p>The executives were charged with financial crimes. Reuters was not immediately able to request comment from the detained executives, who are in Santa Cruz, or able to identify their lawyers.<\/p>\n<p>Yujra said the bank&#8217;s troubles reflected an isolated incident.<\/p>\n<p>&#8220;The financial system in general is in good health. It is strong, robust and very reliable,&#8221; said Yujra.<\/p>\n<p>In several cities, clients were seen crowding at bank branches demanding their savings. Client deposits total some $2.7 billion, according to data from Bolivia&#8217;s economy ministry.<\/p>\n<p>Bolivian law protects some deposits in the event of a bank takeover and outlines a process for transferring Banco Fassil&#8217;s assets and liabilities to other financial entities responsible for returning deposits and collecting credits.<\/p>\n<p>Wednesday&#8217;s event comes weeks after some dollar shortages at currency exchanges sparked nationwide panic over falling reserves and a possible run on banks.<\/p>\n<p \/>\n<p> (Reporting by Daniel Ramos; Editing by David Gregorio)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/bolivia-takes-control-of\/bolivias-government-takes-control-over-top-bank-banco-fassil-after\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportWorldNews\/tagreuters.com2023binary_LYNXMPEJ3Q00R-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ3Q00R-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>LA PAZ (Reuters) &#8211; Bolivia&#8217;s government took control of one of the country&#8217;s largest banks, Banco Fassil, a senior government financial official said on Wednesday, and police arrested several executives for alleged mismanagement. &#8220;Mismanagement, unhealthy practices have caused a crisis,&#8221; the executive director of Bolivia&#8217;s Financial System Supervision Authority (ASFI), Reynaldo Yujra, told reporters in [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":25399,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1222],"tags":[],"class_list":["post-25398","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-world-news"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportWorldNews\/tagreuters.com2023binary_LYNXMPEJ3Q00R-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/25398","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=25398"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/25398\/revisions"}],"predecessor-version":[{"id":25400,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/25398\/revisions\/25400"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/25399"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=25398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=25398"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=25398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}