Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: d:oug who wrote (53640)	6/4/2000 5:12:00 AM
From: long-gone	Respond to of 116914

Advertise Your Banner Here Cost of Mexican Bank Bailout Reaches 78 Billion Dollars EFE June 01, 2000 Mexico City, Jun 1 (EFE).- The bank bailout sparked by the 1995 near-collapse of Mexico's financial system will cost Mexicans nearly 742 billion pesos (78.1 billion dollars) over the next 20 years, according to the Bank Deposit Insurance Institute (IPAB). IPAB is the government agency in charge of selling bank assets and non-performing loans acquired by authorities after the financial crisis. IPAB head Vicente Corta said Wednesday that the total cost of the bailout would rise from 722 billion pesos to 732 billion pesos (76 billion dollars to 78.1 billion dollars) in 2000. Corta said that, in real terms, the increase represented a 7-percent reduction, adding that paying off the debt over a 20-year period was a viable option. IPAB should recover some 2.1 billion dollars in 2000 through the sale of bonds and of Grupo Financiero Serfin. EFE newsmax.com