Venezuela's foreign currency exchange agency, known by the acronym Cadivi, is months late in reimbursing local banks and international credit card companies, El Nacional reported Monday, citing people in the industry it did not name.
Visa Inc., MasterCard Inc., American Express Co., and Discover Financial Services are among the companies that have not received their dollars, the Caracas newspaper reported.
Cadivi sells dollars at the official exchange rate of 2.15 bolivars per dollar. The accounts used to make these payments are exhausted or overdrawn, the newspaper said.
Cadivi's nonpayment has caused some Venezuelans traveling abroad to have their cards rejected, according to El Nacional.