Maduro demand for control crimped finances of Colombia's Monomeros, ex-chair says

Venezuela's President Nicolas Maduro addresses the media from the Miraflores Palace, in Caracas, Venezuela August 16, 2021. REUTERS/Leonardo Fernandez Viloria

CARACAS (Reuters) - Venezuelan President Nicolas Maduro's demand for control of Colombian fertilizer producer Monomeros has further upset the company's finances and contributed to a Colombian regulator's intervention last week, said Carmen Elisa Hernandez, who resigned on Sunday https://twitter.com/cehr6559/status/1437500455555375106 as chair of the company's board.

She told Reuters that Maduro's demand alarmed suppliers of raw materials to the firm and led them to stop selling to Monomeros on generous credit terms, complicating the Venezuelan state-owned company's finances, which were already compromised by difficulty accessing credit from Colombian banks.