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Guatemalans Protest Bankruptcy
Hundreds of Guatemalans, who lost their savings
with the bankruptcy of Banco del Comercio (BANCOMER),
marched down the main capital avenues Friday to
demand a solution from the government.
People from almost the whole country came to
demand the return of their money, which was sent
by BANCOMER executives to an enterprise without
the authorization of its clients.
Many small merchants, retirees, farmers and
housewives opened bank accounts in BANCOMER,
which only gave custody value documents instead
of deposit certificates, and did not register
the entries.
The bank was bankrupt in January, and financial
authorities did not recognize the legality of
those documents, leaving the owners totally
helpless and without mechanisms to recover their
funds.
A committee of 8,000 was formed to discuss the
problems and actions, and they said if the
government authorized the creation of BANCOMER
and supervised its operations, it now must
accept responsibility.
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