Cuba’s Gross Domestic Product (GDP) contracted by 11% in 2020 due to the COVID-19 pandemic and hardening of U.S. sanctions by the Trump administration but new growth is forecast in the upcoming year, Deputy Prime Minister Alejandro Gil told a session of Cuban ... More »
The Paris Club, a financial organization consisting of officials from 22 developed creditor countries, has reached an agreement for a moratorium on Cuban debt payment this year. The decision was questioned by the US administration which is attempting to cut of... More »
Cuban President Miguel Diaz-Canel and Prime Minister Manuel Marrero Cruz recently spoke to the audience on Mesa Redonda to explain the steps needed to alleviate the effects of the pandemic. The actions to be taken in the near future will be known as the “new n... More »
Just two and a half months after Cuba implemented its economic strategy for dealing with the effects of the COVID-19 pandemic, its import/export entities have received more than 1,000 business solicitations. More than 40 contracts have been signed, and the fir... More »
A few days before the release of Cuba’s new economic strategy to deal with the situation created by the COVID-19 pandemic, the first results of Resolution 315 to facilitate export and import services to the “non-state management” were in place. In total, nine ... More »
The effects of the COVID-19 pandemic on the world economy have been devastating and Cuba is no exception. The country has one surprising and significant advantage though: more than 60 years of experience dealing the challenges of an economy crippled by brutal ... More »
Cuba is moving forward in its efforts to increase production by expediting the import process for private producers and facilitating their exports. Resolution 315, recently passed by the Cuban government is designed to put private and state enterprises on an e... More »
One of the most impactful measures announced by the Cuban government on July 16 was the authorization of non-state structures to carry out import/export operations through specialized state companies. To date, there are 36 companies that specialize in import a... More »
Cuba’s President Miguel Díaz-Canel will meet today in a virtual conference with member states of the ALBA-TCP. The economy, finance and trade within the context of the post-COVID-19 world will be the focus of discussions. The meeting will be chaired by First S... More »
Cuba has asked to suspend debt repayments to the Paris Club until 2022 citing the impact on its economy due to the COVID-19 pandemic, according to diplomatic sources interviewed by AFP. In a letter addressed to the group of 14 creditor countries which includes... More »
The Council of Ministers has approved the adjustment of this year’s Economic Plan in response to the effects the COVID-19 pandemic has had on the economy. The arrival of the pandemic in Cuba over the last two months has shown how much social investment policie... More »
2019 has been a year of challenges and victories for Cuba. On January 1, Cuba celebrates the 61st year of the anniversary of the Cuban Revolution. On January 1, 1958, Fidel Castro and the revolutionary army declared victory over the right-wing dictatorship of ... More »
