Colombia says it is willing to buy the Venezuelan company Monomeros

Colombian Finance Minister José Antonio Ocampo said on Wednesday that the government would be willing to buy the Venezuelan fertilizer company Monomeros.

“On the issue of fertilizers, I have said that we are willing to do anything, even here among us, to buy Monomers and expand it significantly. But there are foreign investors who have talked to us about producing fertilizers in Colombia,” Ocampo said during the National Congress of Coffee Growers 2022, in Bogotá.

In mid-September, the government of Venezuelan President Nicolás Maduro regained control of the board of directors of Monomeros Colombo-Venezolanos, based in the Colombian city of Barranquilla, after a couple of years under the supervision of opposition figure Juan Guaidó, supported by Colombia, the United States and other countries.

The official did not reveal details of how much the purchase would amount to or with what resources they would be paid.

The high prices of fertilizers -derived from supply problems from Ukraine due to the war with Russia-, has caused a rebound in inflation, which at the end of October reached 12.22% per year in the country, the highest in 23 years and more than four times the goal of the Central Bank, of 3%.

The recent changes in the management of Monomeros occurred at a time when the ties between Colombia and Venezuelain terms of economic and military cooperation.

Meanwhile, Ocampo anticipated that the Ministry of Mines and Energy will reveal that the country has increased gas reserves to 20 years.

“That gives us an enormous possibility of being fertilizer producers and even of being gas exporters, which we have never been,” said Ocampo.

In September, the Colombian president had announced that the Colombian government I would buy fertilizers abroad and would subsidize them, while the crisis due to the shortage of this chemical is resolved.

[Con información de Reuters]

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