Citibank is shutting down certain accounts in Venezuela, much to the chagrin of the country’s president.
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Maduro said Monday that Citibank gave no warning when it made a decision to close the Venezuelan central bank’s accounts with it.
He said the move amounted to an “inquisition” by US President Barack Obama’s administration.
Officials at Kimberly-Clark did not respond to request for comment. Critics say the socialist economics of Maduro and his predecessor Hugo Chavez have been a disaster for Venezuela, while the government blames its political foes and local businessmen for waging an “economic war” against it. “Nobody stops Venezuela”, Maduro said during a meeting at the Miraflores Presidential Palace.
Maduro continued: “Do you think they’re going to stop us with a financial blockade?”
Venezuelan labor minister Oswaldo Vera said the government would take over the Kimberly-Clark factory after the company said it was no longer possible to manufacture goods because of the country’s economic crisis. “With Citibank or without Citibank, we’ll continue”.
“Kimberly-Clark will continue producing for all of the Venezuelans”, Vera said in a televised statement from the factory surrounded by workers chanting pro-government slogans.
Kimberly-Clark, a USA -based health product producer, announced Saturday that it would cease operations at its Venezuelan factory, which made diapers and facial tissues, because it was impossible for it to buy raw materials and because of rapid inflation.
“If the Venezuelan government takes control of Kimberly-Clark facilities and operations, it will be responsible for the well-being of the workers and the physical assets, equipment and machinery in the facilities going forward”, the company said in a statement.
The country’s economy has been hard hit by the plunging value of its main export, oil.
The new mission is meant to combat the country’s “criminal” black market economy believed to be driving inflation and will be headed by the presidential military command under Defense Minister Vladimir Padrino Lopez.
The Venezuelan opposition launched efforts to remove the president via a referendum after winning control of the legislature in January.
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The national electoral board has said it will announce by July 26 whether enough signatures have been authenticated in an initial petition calling for the recall referendum.
