Uruguay cb to create bank protection committee

URUGUAY - Uruguay's central bank will create a special committee to oversee the provision of liquidity for the country's banks, according to central bank chairman Cesar Rodriguez. This follows the free flotation last week of the country's currency, which could make it difficult for many companies to pay off dollar denominated debts.

"We don't want a single bank to fold [and] we want to protect depositors' rights," Rodriguez said, adding that most of the country's banks do not have problems, de