Cuba reported on Thursday that the island has experienced losses of $5.6 billion in one year because of the economic, commercial and financial blockade enforced by the Trump administration. The Minister of Foreign Affairs Bruno Rodríguez Parrilla said the incr... 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 »
The Director-General of Foreign Trade in Cuba, Vivian Herrera, recently stated that the agricultural sector represents around 40% of the total exports. As a result of the decline of trade with socialist countries, export trade experienced an important structur... 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 »
Currency unification is on the horizon, although it, in itself, is not enough to reorder and update Cuba’s economy according to some experts. Unification of Cuba’s system of money will be a part of the entire process to strengthen national economic performance... 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 »
The Economic Commission for Latin America and the Caribbean (ECLAC) (Spanish acronym: CEPAL) was established in 1948. ECLAC is headquartered in Santiago, Chile, and is one of the five regional commissions of the United Nations. It was founded with the purpose ... More »
The Cuban government has begun wholesale rationing of staple food items and other basic products in the face of a serious supply crisis, Ministry of Domestic Trade (MINCIN) Betsy Diaz Velazquez said Friday. The move is a response to further consequences of the... More »
This is a continuation of Cuba Business Report’s interview with Her Excellency, Josefina de la Caridad Vidal Ferreiro, the Ambassador of Cuba to Canada. The interview took place in late January in Ottawa. In part two of the interview, the Ambassador speaks abo... More »
In 2019, the Cuban economy is forecast to grow by one-and-a-half percent, following a growth rate of 1.2 percent in 2018. This figure is less than the two percent growth previously predicted by the government. Tighter sanctions from the United States, the effe... More »
