Banks close down in Oaxaca due to unrest

Bnamericas Published: Tuesday, October 31, 2006
Banks in the capital and some municipalities of Mexico's Oaxaca state have closed down due to the current unrest, Mexican banking association ABM said in a statement. Striking teachers and activists are demanding that state governor Ulises Ruiz be sacked for abuse of power. Mexico's lawmakers have urged Ruiz to step down but he has refused and the capital has seen violent clashes between riot police and protesters. ABM said member banks could no longer guarantee the safety of customers and employees. Banks will seek to continue offering banking services through ATMs, the internet and phone, the statement said. ABM said banks will only consider reopening if the complete safety is restored.

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