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)”

Almost All the Industries of Sancti Spiritus, Cuba, Are Shut Down to Save Energy

14ymedio, Mercedes García, Sancti Spíritus, 14 June 2022 — The cuts extend throughout Cuba due to the energy problems that put an end to a summer whose worst part is just beginning. The directors of companies in Sancti Spíritus gathered their workers on Monday to give them the bad news: practically all production processes must … Continue reading “Almost All the Industries of Sancti Spiritus, Cuba, Are Shut Down to Save Energy”

The Blackout is the Essence of the Cuban Communist Revolution

14ymedio, Elías Amor Bravo, Economist, 17 June 2022 — The social pressure cooker is about to explode. This kind of thing has not been seen in Cuba since the time of the maleconazo. Unexpectedly, Díaz Canel appeared along with other senior officials of the regime and directors of the sector, simultaneously on Cubavisión, Cubavisión Internacional … Continue reading “The Blackout is the Essence of the Cuban Communist Revolution”

Spanish Consulate in Havana Will Charge for its Services in Euros and Cash

EFE (14ymedio), Havana, 17 June 2022 — The Spanish Consulate in Havana reported this Friday that as of July 1 it will begin charging its consular services in euros, only in cash and with the exact amount. The legation detailed in its Twitter account the price of services such as the preparation of passports (30 … Continue reading “Spanish Consulate in Havana Will Charge for its Services in Euros and Cash”

Cuban Regime Has No Idea What To Do With Private Entrepreneurs

14ymedio, Elías Amor Bravo, Economist, 12 June 2022 – Does the Cuban communist regime really know what it wants to do with the new economic actors? There are serious doubts. The best thing the regime can do for them is to forget that they exist, let them function in the most free and autonomous way … Continue reading “Cuban Regime Has No Idea What To Do With Private Entrepreneurs”

Several Consulates Suspend Their Services Due to a New Resolution of the Central Bank of Cuba

14ymedio, Havana, 10 June 2022 — The resolution of the Central Bank of Cuba, in force since this Friday, which prevents consulates on the island from converting their accounts in pesos into foreign currency has caused, from the outset, the paralysis of consular services in several diplomatic headquarters. The Panamanian Embassy, ​​which has seen a … Continue reading “Several Consulates Suspend Their Services Due to a New Resolution of the Central Bank of Cuba”

The Cuban State Does Not Have Hard Currency to Pay its Debt to Milk Producers

14ymedio, Havana, 10 June 2022 — The dairy company of Ciego de Ávila already owes 60,000 in freely convertible currency (MLC) to ranchers in the province, who are producing well above what was contracted to access the stimulus that was promised to them for it. However, the Cuban State affirms that it does not have enough funds … Continue reading “The Cuban State Does Not Have Hard Currency to Pay its Debt to Milk Producers”

Cuba’s Central Bank Denies That it is Selling US Dollars

EFE/14ymedio, Havana, 31 May 2022 — The Central Bank of Cuba (BCC) denied on Tuesday that it is selling, to individuals, U.S. dollars and freely convertible currency (MLC, the Cuban virtual currency backed by hard currencies). According to the official newspaper Granma, the monetary authority has thus responded to rumors that have arisen after an … Continue reading “Cuba’s Central Bank Denies That it is Selling US Dollars”

Police Return to ‘Guarding’ the Hard Currency Stores in Havana

14ymedio, Juan Diego Rodríguez, Havana, 1 June 2022 — The picture offered by the Plaza de Carlos III in Havana was not normal, with numerous “red berets”, known within the Armed Forces as “prevention troops”, guarding the entrances and shops of the market on Wednesday morning. The same thing happened in La Época, in Galiano and … Continue reading “Police Return to ‘Guarding’ the Hard Currency Stores in Havana”

In Havana, Purchases in Pesos in State Stores are Further Restricted

14ymedio, Havana, 24 May 2022 — The provincial government of Havana took a further step in rationing, by decreeing new limitations for the sale of products through state businesses that sell in national currency, to take effect on Friday, May 20. A month after it was announced that people could only shop in the establishments … Continue reading “In Havana, Purchases in Pesos in State Stores are Further Restricted”

The Price of Hard Currency Drops on the Black Market in Cuba

14ymedio, Havana, 25 May 2022 — The price of hard currency in Cuba is plummeting on the informal market. Not only has the freely convertible currency (MLC) fallen, but also the dollar and even the euro. “Last week the MLC rate was 125 pesos, but I could only sell at 10 to 110 pesos to … Continue reading “The Price of Hard Currency Drops on the Black Market in Cuba”

Competing with the ‘Mules’: The Cuban Government’s Complicated Goal for Remittances

14ymedio, Madrid, 18 May 2022 — Ending the limits on remittances sent from the U.S. to Cuba — one of the measures announced by Washington on Monday, in addition to resuming flights — seems to be one that could have the greatest impact on the Island. It is for the benefit of Cuban families, which … Continue reading “Competing with the ‘Mules’: The Cuban Government’s Complicated Goal for Remittances”

There Will be a Privileged Exchange Rate for Producers of High-Demand Goods in Cuba

14ymedio/EFE, Havana, 15 May 2022 — The Cuban government announced this Saturday that it will establish a special exchange rate for some state and private producers of high-demand goods. Without further details, the Minister of Economy, Alejandro Gil, explained that these sectors, “in a selective and gradual manner,” will be able to obtain foreign currency … Continue reading “There Will be a Privileged Exchange Rate for Producers of High-Demand Goods in Cuba”

Cuban Pork Production Fell by More than 50 Percent in 2021, Confirming the Failure of the 63 Measures

14ymedio, Madrid, 10 May 2022 — Pork production in Cuba fell by 53.5% in 2021 compared to the previous year, to just 132.9 tons. The collapse is not a surprise, but the publication this Monday of the food production data for the previous year has left a trail of bad news for the Government, since … Continue reading “Cuban Pork Production Fell by More than 50 Percent in 2021, Confirming the Failure of the 63 Measures”

‘My Children Believe That Their Father is in a School Not in Prison’ for Cuba’s July 11th (11J) Protests

14ymedio, Yoani Sánchez, Havana, 6 May 2022 — Before the pandemic, Marbelis Vázquez and Daniel Joel Cárdenas managed La Guarapera Velázquez, a private business with which they dreamed of making the money necessary to emigrate. But instead of starting a new life in another country, the husband is now in prison for the July 11th (11J) … Continue reading “‘My Children Believe That Their Father is in a School Not in Prison’ for Cuba’s July 11th (11J) Protests”