The new rules that Cuba has established as part of its “Prioritization” effort are designed to make a serious and positive impact on the Cuban investments process. However, any contemplated investment must be viewed in light of the events of 2020 that will con... More »
Juan Triana Cordoví, is a senior professor at the Center for the Study of the Cuban Economy, University of Havana. He spoke with us on the eve before voters in Georgia headed to the polls in crucial Senate runoffs in the United States. In this interview, Mr. T... More »
In a major policy shift to lure more foreign direct investment and improve its economy, Cuba announced that it will allow foreign entities to retain a majority share in their investments on the island. Until now Cuba maintained a majority stake in all foreign ... More »
The new economic strategy to begin on January 1 foresees the strengthening of foreign and national investment in the main economic sectors. In presentations to the press, Rodrigo Malmierca, Minister of Foreign Trade and Foreign Investment, expressed the condit... More »
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 »
In the midst of the pandemic that seriously affects the North American economy, the U.S. government has restricted the profits of Western Union by blocking remittances to Cuba. Since September 2019, the U.S. has applied provisions to hinder the flow of remitta... More »
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 »
