Search results for: Pedro Monreal

“The Situation Is More Critical Than During the Special Period,” Warns Cuban Economist Pedro Monreal

Cuba is suffering from shortages, prolonged daily blackouts, high inflation, recession, dollarization, mass migration, and an accelerated deterioration of living conditions. EFE (via 14ymedia), Havana, 25 October 2025 —  The Cuban crisis is “systemic” and its planned economic model has likely reached “its limits,” said renowned Cuban economist Pedro Monreal in an interview with EFE. … Continue reading ““The Situation Is More Critical Than During the Special Period,” Warns Cuban Economist Pedro Monreal”

Economist Pedro Monreal Points Out a ‘Statistical Blackout’ in Official Cuban Data

14ymedio, Havana, 14 March 2024 — The balance sheet for Internal Trade in Cuba for 2023, published by the Government this Wednesday, provided only one statistic for the sector: 70% of the construction materials delivery plan was met. The rest of the meeting consisted of an accumulation of “enigmatic formulations, abundant exhortations, a drought of … Continue reading “Economist Pedro Monreal Points Out a ‘Statistical Blackout’ in Official Cuban Data”

The Cuban Economy Will Suffer a Much Larger GDP Decline Than Predicted by ECLAC

Cuban economist Pedro Monreal predicts a 15% drop in gross domestic product, compared to the 6.5% forecast by the Latin American organization 14ymedio, Havana, May 7, 2026 / Cuban economist Pedro Monreal is far more pessimistic in his forecasts for 2026 than the Economic Commission for Latin America and the Caribbean (ECLAC) [CEPAL in Spanish], … Continue reading “The Cuban Economy Will Suffer a Much Larger GDP Decline Than Predicted by ECLAC”

The Central Bank of Cuba Creates 2,000 and 5,000 Peso Banknotes To Facilitate Transactions ‘In the Current Moments of Inflation’

For the first time, Cuban banknotes feature the faces of women, Mariana Grajales and Celia Sánchez. 14ymedio, Havana, March 31, 2026 – Mariana Grajales and Celia Sánchez will be the first female faces to appear on Cuban banknotes starting this Wednesday, when the Central Bank of Cuba (BCC) puts into circulation new denominations that have … Continue reading “The Central Bank of Cuba Creates 2,000 and 5,000 Peso Banknotes To Facilitate Transactions ‘In the Current Moments of Inflation’”

Cuban Foreign Trade Minister Confirms Cubans in the US Will Be Able to Invest in Private Businesses on the Island

Miami-Dade County Tax Collector Dariel Fernandez called the Cuban government’s announcement a “desperate maneuver by the dictatorship to try to save itself.” 14ymedio, Havana, March 16, 2026 — Cuba’s Minister of Foreign Trade and Foreign Investment, Oscar Pérez-Oliva Fraga, said this Monday that the Government will allow “Cubans who reside abroad even without holding effective … Continue reading “Cuban Foreign Trade Minister Confirms Cubans in the US Will Be Able to Invest in Private Businesses on the Island”

Experts: The Government’s Measures Are Stopgaps and Will Not “Resolve or Correct the Multiple Crises”

In addition to facing legal obstacles on the Island and in the U.S., it will be necessary to create guarantee mechanisms for potential investors. 14ymedio, March 17, 2026 – MADRID / The ball is in the U.S.’ court about whether it will respond or not to the changes announced this Monday by Cuba’s deputy prime … Continue reading “Experts: The Government’s Measures Are Stopgaps and Will Not “Resolve or Correct the Multiple Crises””

With the Legalization in Cuba of Mixed Companies Between the Private Sector and the State, the Regime Aims to Capture Efficiency

The new rule sparks skepticism among experts, and some fear it’s about “locking in state subordination of the private business sector.” 14ymedio, Madrid, 4 March 2026 — “With the new rule on mixed mercantile companies, imported fuel sold by the private sector might finally have an outlet.” That’s the take from Daniel Torralba, economist and … Continue reading “With the Legalization in Cuba of Mixed Companies Between the Private Sector and the State, the Regime Aims to Capture Efficiency”

Díaz-Canel Insists on Improving a Failed Economic Model Instead of Adopting Another One

Under another name, the regime offers the same recipes that have led the country to an unprecedented crisis. 14ymedio, Havana, 3 March 2026 — The lessons of the past have not sunk in at the top of the Cuban power structure, which continues to stumble, time and again, over the same stone in its failed … Continue reading “Díaz-Canel Insists on Improving a Failed Economic Model Instead of Adopting Another One”

Fear Grows That Trump May Prioritize Economic Opening Over Political Change in Cuba

Expert John Kavulich sees signs that the U.S. could settle for a regime similar to what exists in Vietnam or China 14ymedio, Madrid, February 19, 2026 – The risk that the Trump administration could promote an economic opening without political changes in Cuba is gaining traction in some circles. Two economists, one American and one … Continue reading “Fear Grows That Trump May Prioritize Economic Opening Over Political Change in Cuba”

In Cuba the Dollar Reaches 500 Pesos on the Informal Market in Holguín and Sancti Spíritus

Economist Pedro Monreal points to the failure of the floating exchange rate created by the government a month ago in its latest attempt to revalue the national currency 14ymedio, Holguín/Sancti Spíritus, Havana, Miguel García, Mercedes García, and Darío Hernández, January 22, 2026 – Just over a month after the official floating exchange rate went into … Continue reading “In Cuba the Dollar Reaches 500 Pesos on the Informal Market in Holguín and Sancti Spíritus”

Cuba Records Real Annual Inflation of 70% in 2025, but the Government Puts It at Just 14%

The island is experiencing a combination of gross domestic product contraction and rising prices, which is affecting food in particular. 14ymedio, Havana, 10 January 2026 — Cuba closed the last month of 2025 with year-on-year inflation of 14.07% in the formal market, according to data published by the National Office of Statistics and Information (Onei). … Continue reading “Cuba Records Real Annual Inflation of 70% in 2025, but the Government Puts It at Just 14%”

Even the Least Critical Economists Describe Cuba’s Coexistence of Several Exchange Rates as a ‘Very Serious Error’

In ‘La Joven Cuba’, Omar Everleny Pérez Villanueva, Ricardo González Águila, Carlos Enrique González and Arturo López-Levy fear the failure of foreign-exchange market regulations 14ymedio, Havana, December 19, 2025 — Confusion has been a constant on the first day of life of the floating exchange rate for the Cuban peso. “The banks in Regla are … Continue reading “Even the Least Critical Economists Describe Cuba’s Coexistence of Several Exchange Rates as a ‘Very Serious Error’”

“A Convulsion Is Coming in Cuba,” Warns the Prestigious British Media ‘The Economist’

ECLAC and Cuba Siglo XXI also describe a shocking panorama and the regime’s rejection of any change 14ymedio, Madrid, November 23, 2025 — As if they refused to take the antidote that would prevent death when bitten by a poisonous insect, the Cuban government continues its forward flight blindly with a reissued “program to correct … Continue reading ““A Convulsion Is Coming in Cuba,” Warns the Prestigious British Media ‘The Economist’”

Meliá Blames “Social Network Campaigns” for the Poor Results of Tourism in Cuba

Other hotels suffer more than the Spanish, and the country’s revenues fall another 12%, with an occupancy rate of only 18.9% of the available rooms 14ymedio, Madrid, November 21, 2025 — “In Cuba, there are signs of recovery despite the persistence of discouraging social network campaigns.” The phrase is not from the Minister of Tourism … Continue reading “Meliá Blames “Social Network Campaigns” for the Poor Results of Tourism in Cuba”

Cuba’s Officialdom Denounces “The Hijacking of the Role of the Central Bank of Cuba” by ’El Toque

The new campaign against the daily publication of exchange rates in the informal market reflects the authorities’ panic over the collapse of the peso. 14ymedio, Madrid, 4 November 2025 —  The war against El Toque has returned as quickly as the sharp rise of the dollar in recent weeks on the informal currency market, followed … Continue reading “Cuba’s Officialdom Denounces “The Hijacking of the Role of the Central Bank of Cuba” by ’El Toque”