The Adventure of Opening an Account in Cuba in MLC (Hard Currency)

14ymedio, Elías Amor Bravo, Economist, July 26, 2020 – Imagine that you’re going to your bank to open an account. One of the simplest operations in any country in the world. You really could save yourself the trouble, if you want, because online banks offer a way to do that. In Cuba, it’s more complicated, … Continue reading “The Adventure of Opening an Account in Cuba in MLC (Hard Currency)”

Paseo Galleries in Havana, a Palace of Consumption Turned into Ruins

14ymedio, Natalia López Moya, Havana, 24 February 2024 — Careful!” a woman managed to say this Friday to a child who was rushing along the entrance ramp of the Paseo Galleries, in Havana’s Vedado district. The floor slabs, full of holes, forced customers going to the market, located on the first floor, to walk gently … Continue reading “Paseo Galleries in Havana, a Palace of Consumption Turned into Ruins”

A Cuban Bank Offers New Prepaid Cards in Dollars for Cubans and Foreigners

14ymedio, Havana, 23 January 2024 — A group of “selected branches” of the Banco de Crédito y Comercio de Cuba (Bandec) will begin selling prepaid cards in dollars for domestic and foreign customers starting this Wednesday. Similar to those already marketed in hotels, the new cards offer advantages over their predecessors: they are valid for … Continue reading “A Cuban Bank Offers New Prepaid Cards in Dollars for Cubans and Foreigners”

In Manzanillo, the Windows of Hard Currency Stores Are Covered Against Stones

14ymedio, Juan Matos, Manzanillo, January 16, 2024 – The authorities of Manzanillo, in the province of Granma, have covered the windows of the stores in freely convertible currency (MLC). In recent months, stone attacks on these shops have increased, because of the population’s discontent. Covering the windows is a temporary measure that seeks to protect … Continue reading “In Manzanillo, the Windows of Hard Currency Stores Are Covered Against Stones”

Cuban Authorities Announce Price Increases of More Than 500 Percent for Regular Gasoline and Diesel

14ymedio, Madrid, 9 January 2024 — Fuel on the Island will quintuple in price starting February 1st. But Cubans, always thinking ahead, are more afraid of the dangers to come. These include even larger price increases on the black market and shortages at service centers, especially for those paying in Cuban pesos (CUP) rather than … Continue reading “Cuban Authorities Announce Price Increases of More Than 500 Percent for Regular Gasoline and Diesel”

‘The Cuban State No Longer Has Money To Pay Waste Collectors, so I Sell to the Private Companies’

14ymedio, Miguel García, Holguín, 7 January 2023 — Search, collect and crush. Ramón’s day, at age 57, contains those three actions. He makes his rounds through the city center of Holguín, where cans of soft drinks or beer can be more common in the trash. Then, after several days of accumulating, he sells his loot … Continue reading “‘The Cuban State No Longer Has Money To Pay Waste Collectors, so I Sell to the Private Companies’”

Paying with Hard Currency Cards, A Scam for Tourists in Cuba

14ymedio, Natalia López Moya, Havana, 4 January 2024 — Twinkling lights, sculptural bodies and music. The propaganda about the Tropicana cabaret in Havana has barely changed in decades. The environment has changed and customers looking for a night of relaxation will have to overcome some obstacles, including the method of payment: a convoluted and frustrating … Continue reading “Paying with Hard Currency Cards, A Scam for Tourists in Cuba”

How Much Does 100 Dollars Weigh in Cuban Pesos?

14ymedio, Mercedes García, Sancti Spíritus | 30 December 2023 — Edith has been “hunting” for a few pounds of malanga and two pork shanks for weeks. This end of the year, her house in the Los Olivos neighborhood, in Sancti Spíritus, has become a base of operations. The budget: 100 dollars that her brother sent … Continue reading “How Much Does 100 Dollars Weigh in Cuban Pesos?”

Russian Mir Cards Give an ‘Error’ Message at the Store Where the Central Bank of Cuba Did the Tests

14ymedio, Havana, 6 December 2023 — “Error.” That word, appearing this Wednesday on the payment terminal screens at the Casa del Café Mamá Inés in Old Havana, destroys the illusions of the Central Bank of Cuba (BCC) about the effectiveness of the Russian Mir cards. Despite its commitment to the officials of the Russian National … Continue reading “Russian Mir Cards Give an ‘Error’ Message at the Store Where the Central Bank of Cuba Did the Tests”

Steps Towards the Disaster of Cuba’s ‘Bancarizacion’ [Banking Reform]

14ymedio, Elías Amor Bravo, Economist, November 25, 2023 — Bancarización* (banking reform) in Cuba is becoming a one-act comedy for those who are bored with the low quality of the script and the cast that participates. Almost half a year after the approval of Resolution 111 of the Central Bank of Cuba, the conclusion that … Continue reading “Steps Towards the Disaster of Cuba’s ‘Bancarizacion’ [Banking Reform]”

The Opening of a Russian Store in Havana in 2024 Is Confirmed Without Clarifying What Currency Is Needed: Cuban Pesos or Foreign Currency

14ymedio, Madrid, November 13, 2023 — The official press echoed this Sunday the announcement of the opening of a Russian products store in Havana, a project between the RusMarket brand and the state-owned Cimex that had already been advanced eight months ago but now has a tentative date: March 2024. At that time, Evguéni Meytes, … Continue reading “The Opening of a Russian Store in Havana in 2024 Is Confirmed Without Clarifying What Currency Is Needed: Cuban Pesos or Foreign Currency”

Washing Machines, from Havana’s Plaza de Carlos III Directly to the On-Line Shopping Site Revolico

14ymedio, Juan Diego Rodríguez, Havana, November 20, 2023 — The longest line of the day in the Plaza de Carlos III had a reason this Monday: the store brought out automatic washing machines for 384 MLC (freely convertible currency, effectively $384 US). Several dozen people crowded the store, located in the part of the Centro … Continue reading “Washing Machines, from Havana’s Plaza de Carlos III Directly to the On-Line Shopping Site Revolico”

Italian Businessman Linked to Castroism Will Open a Hard Currency Store in the Old Ten Cents Store in Galiano

14ymedio, Madrid, November 17, 2023 — Food, footwear, appliances, hygiene products and other household items: an entire catalog of products in a Havana shopping center that requires payment in hard currency. Unlike what happened a few days ago with the announcement of the upcoming arrival of RusMarket in the Cuban capital, it has become clear … Continue reading “Italian Businessman Linked to Castroism Will Open a Hard Currency Store in the Old Ten Cents Store in Galiano”

In Cuba, Tourists Distrust Prepaid Hard Currency Cards and Prefer to Pay in Cash

14ymedio, Natalia López Moya, Havana, 8 November 2023 — With seven years in the United States and a butcher’s trade, Yoandy returned to Cuba this October to spend a few days with his family. In addition to their embrace, this 46-year-old from Villa Clara encountered serious problems when it came to paying for products and … Continue reading “In Cuba, Tourists Distrust Prepaid Hard Currency Cards and Prefer to Pay in Cash”

U.S. Chicken Imports Fall by 66 Percent and Cubans Already Pay a Fortune for a Single Chicken Breast

14ymedio, Madrid, 8 November 2023 — Chicken is sought after in the streets of Havana. After a few months when the increase in private businesses had improved the availability of chicken meat, one of the most coveted foods on the Island after people had to give up first beef and then pork, things have gotten … Continue reading “U.S. Chicken Imports Fall by 66 Percent and Cubans Already Pay a Fortune for a Single Chicken Breast”