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ARGENTINA: SAVERS TO BE REIMBURSED FOR ACCOUNTS FROZEN IN 2001.

Publication: Interpress Service
Publication Date: 29-DEC-06 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
by Marcela Valente

BUENOS AIRES, Dec. 28, 2006 (IPS/GIN) -- Five years after Argentina's economic and political meltdown, when the government froze the bank savings of roughly 1 million people, a court has finally decided on a solution for tens of thousands of people still unable to access their funds.

The Supreme Court ruled Wednesday that the banks must reimburse account-holders with an amount equivalent to the real value of their savings in December 2001.

But it also decided that a measure by which banks were ordered to transform deposits and loans in dollars into pesos was constitutional.

The Supreme Court ruling, awaited anxiously by a group of savers outside of the courtroom, ordered the banks to reimburse account-holders for "100 percent of the dollar value...

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