Shortage likely to escalate in Venezuela amid drought of US dollars
The Venezuelan Confederation of Industries said the alarms have already set off in some sectors
"If delays in the delivery of authorizations, certificates, licenses, and foreign currency continue, shortage will exacerbate in the country in the next weeks, just when consumption reaches its highest point in the year," the confederation noted in a press release.
Conindustria informed that today the Foreign Exchange Administration Commission (Cadivi) takes nearly 180 days to authorize sales of US dollars to enterprises. The confederation also reported delays in different ministries on the issue of Certificates of Non-Production (CNP), a prior requisite to apply for US dollar through Cadivi.
Conindustria said the alarms have already gone off in some sectors, including the agro-industry.
A shipment of over 30,000 tons of phosphate arrived at Puerto Cabello port in late July on board the Shi Long Ling, a Chinese-flagged vessel that began its long journey in northern Africa. The cargo boat docked on July 26 after traveling more than 3,200 nautical miles. Undoubtedly, this would just be considered one in many cargo ships crisscrossing the oceans if it were not for the fact that Venezuela has denounced Western Sahara occupation by Morocco and yet purchases the territory's natural resource products from the occupying power.