Uruguay's central bank to begin deposit return

URUGUAY - Uruguay's government will begin returning deposits on Wednesday to clients of suspended banks Banco Montevideo, Caja Obrera, Comercial and de Credito, the central bank said in a statement.

The banks saw their operations suspended in the first week of August after contagion from crisis-ridden Argentina and local banking scandals sparked a run on deposits in Uruguay. The financial system has begun to slowly recover after the IMF and the US granted Uruguay a US$1.5bn bridge loan last we