Venezuela bailout cost near $6 billion.

CARCAS -- Venezuela said it has spent the equivalent of $5.99 billion bailing out banks since a liquidity crisis began in January.

About 40% of the total went to Banco Latino, which collapsed on Jan. 13 and reopened April 4 after a government takeover, according to the government deposit insurance fund Fogade. The remaining sums were pumped into eight other financial institutions.

Analysts expect that most of the banks will be unable to repay the loans and eventually will be taken over by the government and sold off.

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