Zuluaga Offered to Quit Over Pyramid Crisis, Portafolio Says
Zuluaga Offered to Quit Over Pyramid Crisis, Portafolio Says
By Helen Murphy
Nov. 27 (Bloomberg) -- Colombia Finance Minister Oscar Ivan Zuluaga offered to resign his post more than a week ago amid a domestic financial crisis sparked by the collapse of local pyramid schemes, Portafolio reported in its on-line edition.
The country’s president, Alvaro Uribe, has not accepted his resignation, the newspaper reported. As many as 500,000 Colombians face losses from money invested in Ponzi schemes that promised returns of as much as 200 percent in a week, Zuluaga said in a Nov. 19 interview in Bogota with Bloomberg Television.
To contact the reporters on this story: Helen Murphy in Bogota at Hmurphy1@bloomberg.net.
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