The 1994 banking crisis occurred in Venezuela when a number of the banks of Venezuela were taken over by the government. The first to fail, in January 1994, was Banco Latino, the country's second-largest bank ($1.3 billion bailout[1]). Later, two banks accounting for 18% of total deposits (Banco Consolidado and Banco de Venezuela) also failed.[2]
^Escobar, Gabriel (1994-06-27). "VENEZUELAN ECONOMY IN CRISIS". Washington Post. ISSN 0190-8286. Retrieved 2023-03-16.
^Cite error: The named reference Molano was invoked but never defined (see the help page).
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