Coca-Cola Femsa Squeezed As US Dollars In Short Supply

The Chief Financial Officer (CFO) of Coca-Cola Femsa has suggested that the Venezuelan government may offer a 'dual' exchange rate as companies are finding it difficult to acquire dollars to pay for foreign raw materials. The unofficial exchange rate is now around three times the official exchange rate of VEB2.15/US$. While the country's finance ministry has chosen not to comment on the suggestion, the revelation underlines what a difficult operating environment Venezuelan food and drink businesses are having to contend with.

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