Weekly Report - 4 January 2007

Five years on from the financial crisis, the supreme court ordered banks to repay the totality of dollar savings, frozen at the end of 2001 to prevent a run on the banks, at current market rates and in pesos. The supreme court ducked the question of whether the 'pesification' decree, the forcible conversion of dollar-denominated deposits and contracts into pesos at the start of 2002, was constitutional. But it effectively upheld the decree as 50,000 pending lawsuits against it will now be inadmissible.

End of preview - This article contains approximately 633 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial