OREANDA-NEWSThe British company De La Rue, one of the world's largest manufacturers of securities and banking equipment, can't receive the £ 18 million owed to it by the Central Bank of Venezuela. “We are in constant contact with customers, they really want to pay off this debt”, said Helen Willis, Chief Financial Officer.

Reuters agency clarifies that Venezuela can't repay a debt, in particular, because of the international sanctions imposed on it. Since 2013, when Nicolas Maduro became president, the GDP of the Latin American Republic decreased by 52.3%, and inflation rose from 180% to 130,000% per year. Revenues from the sale of oil (Venezuela has the largest hydrocarbon reserves) decreased three times, and its production fell to a historical minimum - 740 thousand barrels per day.

The day before, on May 30, the company reported on its financial results for 2018–2019, which ended in March 2019, and warned that the profit for 2020 will be “slightly lower” than planned and that which is currently available. The company received net debt in the amount of £ 107.5 million and explained its increase in gross receivables in the amount of £ 40 million, due to the timing of revenues and debt obligations that remain with Venezuela. Operating income for the year decreased by 74% from £ 123 million to £ 31.5 million. Despite this, the company's revenue increased by 14% to £ 564.8 million.

De La Rue prints banknotes for dozens of countries and passports for at least 40 other countries. As noted by the Financial Times, the British company produces about a third of world banknotes. After the publication of the report and news about the resignation of the general director, the company's shares on the stock exchange fell by 29% to the lowest level in the last 15 years.