Fogade to offer discount to debtors

Venezuela's deposit insurance agency Fogade is set to offer a discount to debtors of intervened banks, the agency said in a statement. Fogade will provide a 50% discount to individuals whose debts with the banks were below 12mn bolivares (US$7,500) as of end-April this year, the statement said. The intervened or liquidated banks in question are: Amazonas, Fiveca, Barinas, Bancor, Construccion, Confinanzas, Metropolitano,Credito Urbano, La Guaira, Maracaibo, Progreso, Italo, Profesional and Principal. This initiative is also scheduled to extend in the short term to incorporate debtors of the following banks: Trabajadores de Venezuela, Nacional de Descuento, Latino, Hipotecario Centro Occidental, Sociedad Financiera de los Andes, Fichaza and Recuperaciones Banconac.