Banking

Currency Unification – Not Happening January 1

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Please note: this article was published on December 28, 2019 and is now outdated. Currency unification will actually take place on January 1, 2021. Read about the new currency unification, January 1, 2021 here. In spite of rumors in the press, currency unification (currency reform) is not going to happen on January 1 in Cuba. The process is in the advanced stages of review by Cuban government experts and the Central Bank of Cuba, “to conclude the process of monetary and exchange unification” as per the guidelines in force until 2021. Cuban President, Miguel Díaz-Canel Bermúdez confirmed this on Saturday before the National Assembly of People’s Power stating, “The monetary system is in an advanced phase of study and approval” The Minister of Economy Alejandro…

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