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Colombia Seeks $275M Cadivi Payment

07-24-2009 | Source: emii.com

People & Companies in the News

Colombian trade minister Luis Plata has asked Venezuela’s currency administrator, Cadivi, to sanction payments worth $275 million to Colombian exporters, The Wall Street Journal reports. The debts are more than one year to about 180 days old.

Colombian exports of leather goods declined 92% in the first quarter of the year to $832,000 from $10.6 million in the same period last year due to Cadivi’s delays. Colombia, which does not intend to take retaliatory actions against Venezuela, said Cadivi has started preferring products, such as drugs and food over leather goods.

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