News / Americas

Ford Suspends Vehicle Assembly in Venezuela

Reuters
U.S. automaker Ford has halted operations in Venezuela on Monday due to a lack of foreign currency to import parts for assembly, workers at its plant said.
 
Like other private businesses in Venezuela, carmakers have been complaining that the socialist government's currency controls are preventing them from importing essential products due to restrictions and delays in purchases of dollars.
 
Workers, who spoke to Reuters on condition of anonymity, said the plant in the central city of Valencia would be paralyzed until the end of May.
 
Transport Minister Haiman El Troudi confirmed the stoppage at the plant but said it should reopen in two weeks after a meeting between Ford representatives and government officials that resolved some “critical bottlenecks.”
 
The minister said state currency board Cencoez would release $20 million in debt to Ford this week.
 
Toyota Motor Corp. halted vehicle assembly in Venezuela in February for the same reasons.
 
Venezuela's struggling auto industry saw first-quarter production fall 76 percent to just 3,424 vehicles, compared with 14,316 units in the same period of 2013, according to national automakers' organization Cavenez.
 
Ford assembled only 499 cars in the first three months of 2014.
 
Automobiles are just one sector of many where President Nicolas Maduro's government is facing clamor to release more dollars for imports. He says unscrupulous businessmen exaggerate needs in order to flip dollars on the black market for profit.
 
But nevertheless ministers are holding urgent meetings with business heads to try and resolve problems and help reverse the slide in local production.
 
Venezuela operates three exchange controls - at 6.3 bolivars per dollar for preferential goods, and at around 11 and 50 for other sectors via two Central Bank mechanisms.
 
The dollar is trading at about 66-68 bolivars on the black market, according to illegal web sites that track it.
 
General Motors, Mitsubishi, and Fiat Chrysler also have assembly plants in Venezuela.

You May Like

Multimedia Social Media Documenting, Not Driving, Hong Kong Protests

Unlike in Arab Spring uprisings, pro-democracy protesters in Hong Kong aren't relying on Twitter and Facebook to organize, but social media still plays a role More

Analysis: Occupy Central Not Exactly Hong Kong’s Tiananmen

VOA's former Hong Kong, Beijing correspondent compares and contrasts 1989 Tiananmen Square protest with what is now happening in Hong Kong More

Bambari Hospital a Lone Place of Help in Violence-Plagued CAR

Only establishment still functioning in CAR's second city is main hospital More

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
The Legacy of Jimmy Carter: The Preacher from Plainsi
X
October 01, 2014 10:45 AM
It is common in the United States to see tourists flock to sites associated with America's presidents. Some are privately owned and others are run by the National Park Service or the National Archives -- but most have helped draw business and people into the towns and cities where they are located. As VOA’s Kane Farabaugh reports, there is one particular presidential hometown that is unique in what it has to offer those who make the trip.
Video

Video The Legacy of Jimmy Carter: The Preacher from Plains

It is common in the United States to see tourists flock to sites associated with America's presidents. Some are privately owned and others are run by the National Park Service or the National Archives -- but most have helped draw business and people into the towns and cities where they are located. As VOA’s Kane Farabaugh reports, there is one particular presidential hometown that is unique in what it has to offer those who make the trip.
Video

Video Hong Kong Protests Draw New Supporters on National Holiday

On the 65th anniversary of the founding of Communist China, Hong Kong protesters are hoping to stage the largest pro-democracy demonstration since the 1989 Tiananmen protests. VOA's Brian Padden visited one of the protest sites mid-day, when the atmosphere was calm and where the supporters were enthusiastic about joining what they are calling the umbrella revolution.
Video

Video India's PM Continues First US Visit

India's prime minister is on his first visit to Washington, to strengthen political and economic ties between the world's oldest and the world biggest democracies. He came to the U.S. capital from New York, the first stop on his five-day visit to the country that denied him an entry visa in the past. From Washington, Zlatica Hoke reports Modi seemed most focused on attracting foreign investment and trade to increase job opportunities for his people.
Video

Video Malaysia Struggles to Stop People Joining Jihad

Malaysian authorities say militant groups like the so-called "Islamic State" have used social media to entice at least three dozen Malaysian Muslims to fight in what they call "jihad" in Syria and Iraq. As Mahi Ramkrishnan reports from Kuala Lumpur, counterterrorism police are deeply worried about what could happen when these militants return home.
Video

Video Could US Have Done More to Stop Rise of Islamic State?

President Obama says airstrikes against Islamic State militants in Syria will likely continue for some time because, in his words, "there is a cancer that has grown for too long." So what if President Obama had acted sooner in Syria to arm more-moderate opponents of both the Islamic State and the Syrian government? VOA State Department Correspondent Scott Stearns reports from the United Nations.
Video

Video Treasure Hunters Seek 'Hidden Treasure' in Central Kenya

Could a cave in a small village in central Kenya be the site of buried treasure? A rumor of riches, left behind by colonialists, has some residents dreaming of wealth, while others see it as a dangerous hoax. VOA's Gabe Joselow has the story.
Video

Video Ebola Patients Find No Treatment at Sierra Leone Holding Center

At a holding facility in Makeni, central Sierra Leone, dozens of sick people sit on the floor in an empty university building. They wait in filthy conditions. It's a 16-hour drive by ambulance to Kailahun Ebola treatment center. Adam Bailes was there and reports on what he says are some of the worst situations he has seen since the beginning of this Ebola outbreak. And he says it appears case numbers may already be far worse than authorities acknowledge.
Video

Video Identifying Bodies Found in Texas Border Region

Thousands of immigrants have died after crossing the border from Mexico into remote areas of the southwestern United States in recent years. Local officials in south Texas alone have found hundreds of unidentified bodies and buried them in mass graves in local cemeteries. Now an anthropologist and her students at Baylor University have been exhuming bodies and looking for clues to identify them. VOA’s Greg Flakus has more from Waco, Texas.
Colonel Steve ‘Spiros’ Pisanos left Greece and came to the U.S. to learn to fly. He flew fighters for the Allies in World War II, narrowly escaping death multiple times.Colonel Steve ‘Spiros’ Pisanos left Greece and came to the U.S. to learn to fly. He flew fighters for the Allies in World War II, narrowly escaping death multiple times.

AppleAndroid

More Americas News

Mexico Captures Wanted Drug Kingpin Hector Beltran Leyva

Beltran Leyva is one of four brothers who allegedly headed a vicious Mexican drug cartel after it split with the Sinaloa cartel
More

Mother Says Former US Marine Needs Treatment, Not Mexican Prison

Jill Tahmooressi said son Andrew, 26, has been threatened by prison guards with rape, torture and execution since his arrest in March
More

Rio 2016 Olympics Progress Impressive, Says IOC in Change of Tone

Assessment, in stark contrast to ‘worst’ ever remark made by one committee member, comes after latest site inspection
More

Mexican Soldiers Face Murder Charges in 22 Deaths

Three soldiers charged with homicide in death of 22 suspected drug gang members who prosecutors allege were executed
More

Poll: Record Number of Mexicans Crime Victims in 2013

While government data shows murder rate has fallen in past 2 years, crimes such as kidnapping and extortion, which affect wider swath of the population, rise
More

OAS Asks Members to Take In Guantanamo Detainees

Organization of American States issues appeal for member countries to take in detainees from US military prison
More