Cuba and the Big Banks

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It’s safe to say, that at the current time, there’s a massive problem in the existing relationship between Cuba and the big banks.  The overlying reason for this is the American embargo/blockade and the genuine fear of the big banks of the enormous fines imposed by the U.S. Treasury Department.  For Cuba, problems of obtaining credit, freezing of funds and the lack of the ability to deal in U.S. dollars makes trade difficult.  As a result economic growth is severely hindered for the Island economy. When the Cuban diplomatic mission in Washington first opened, it operated without a bank or banking services. This situation created difficulties for the Cuban missions to provide normal consular services. For example, these banking restrictions forced both American citizens and…




Unbiased reporting on economic news and business developments in Cuba by industry sector


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