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Kyrgyzstan Review, 10 years ago




[18.06.23] Depositors of Five Failed Kyrgyz Banks to Get Back Only A Fraction Of Their Money

Representatives of governmental Agency for Bank Reorganization and Debt Restructuring told journalists on 18 June that depositors of five failed commercial banks cannot expect to get all their money back, Deutsche Welle reported. According to agency official Sanzhar Niyazaliev, the banks so far have returned only about $670,000 of the $3.5 million owed to some 8,000 depositors, many of them pensioners. The International Monetary Fund has offered to help work out ways for those who have lost their savings to get their money back in order to reduce social tensions. The affected depositors have been blocking streets and picketing the president's office, demanding their money and the prosecution of bank officials, none of whom has been held accountable for the bank failures.
 
RFE/RL News Line,
June 18, 2003

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