Venezuela Is Starting Not to Function
Venezuela: Automotive Manufacturers To Shut Down In May
April 23, 2010
All seven Venezuelan automotive manufacturing plants will cease production in May due to difficulty in currency allocation, inventory problems and a shortage of raw materials, El Nacional reported April 23. Venezuelan Automotive Chamber head Enrique Gonzalez said production could be disrupted for up to three months and that national automakers owe international suppliers more than $2 billion.
If automakers can't get supplied, it means that industry broadly isn't getting supplied. That is what happens when you stiff your vendors. The whole country is on "ship COD" terms. Chinese loans can keep them afloat, maybe, but things are breaking down fast in the Bolivarian Socialist paradise.
April 23, 2010
All seven Venezuelan automotive manufacturing plants will cease production in May due to difficulty in currency allocation, inventory problems and a shortage of raw materials, El Nacional reported April 23. Venezuelan Automotive Chamber head Enrique Gonzalez said production could be disrupted for up to three months and that national automakers owe international suppliers more than $2 billion.
If automakers can't get supplied, it means that industry broadly isn't getting supplied. That is what happens when you stiff your vendors. The whole country is on "ship COD" terms. Chinese loans can keep them afloat, maybe, but things are breaking down fast in the Bolivarian Socialist paradise.
posted by Donny Baseball at 1:34 PM
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