Economy  
President Hugo Chávez announced on Thursday that his government has decided to include banks Bolívar and Confederado in the state-run banking system. Both institutions are currently closed, following takeover amidst various irregularities.

"Banks Confederado and Bolívar, once they are rehabilitated, will become part of the public finance system," said Chávez during a meeting with his ministers and top economic officials.

Banks Confederado, Bolívar, BanPro and Canarias were seized by the government two weeks ago due to numerous irregularities, but they remained operational.

On Monday, the Executive Office decided to shut down the banks to continue with their auditing and ordered the liquidation of Banco Canarias and BanPro, given their lack of solvency.

Concerning Banks Confederado and Bolívar, the government said they needed "rehabilitation" before resuming operations, AFP reported.

"These banks will not be liquidated, and they will become part of the public system," added Chávez.