January 1st is the Date Set for Currency Unification in Cuba

14ymedio, Havana, December 10, 2020 — One of the most frequently asked questions in Cuba in recent years has finally been answered: currency unification will begin January 1, 2021, putting an end to the Cuban convertible peso* (CUC). The date was announced by President Miguel Díaz-Canel during a special broadcast on national television. It will be … Continue reading “January 1st is the Date Set for Currency Unification in Cuba”

Wanted by Everyone, Caught by Few, Cuban Rice is Now for Sale in Dollars

14ymedio, Luz Escobar, Havana, 8 December 2020 — Until recently, coffee shops advertised “rice with steak”, “congrí (black beans and rice) and yucca,” “yellow rice with sausage,” and other combinations where the grain reigned, as it does in every Cuban table. But the product, missing from the unrationed market, is now only found on the black market … Continue reading “Wanted by Everyone, Caught by Few, Cuban Rice is Now for Sale in Dollars”

In Cuba Inflation is Oval and Comes in an Egg Carton

14ymedio, Havana, 4 November 2020 — After looking for eggs for two weeks, Leonel has no choice but to accept the law of the street and pay more than five pesos for each one. “I just bought a carton of 30 eggs for 175 pesos, each one is more than 5.80 [Cuban pesos, roughly 25¢ … Continue reading “In Cuba Inflation is Oval and Comes in an Egg Carton”

Western Union Employee Says Fincimex Lies: "They Have Not Ordered Us to Close"

14ymedio, Havana, 27 October 2020 —  Fincimex, one of the companies in Cuba’s military conglomerate GAESA, reported in an ambiguous statement that they will close the 407 Western Union offices in Cuba, after the new provisions announced by the United States last Friday which prohibit the sending of remittances through companies linked to the military. In a call from this … Continue reading “Western Union Employee Says Fincimex Lies: "They Have Not Ordered Us to Close"”

Small Cuban Businesses Will Try to Replace Western Union’s Services

14ymedio, Luz Escobar, Havana, 26 October 2020 — The lines at several of the Western Union branches in Havana were longer than usual this Monday, three days after the US Government announced that it will prohibit the sending of remittances to Cuba through companies controlled by military. The conversations among those who waited ranged from uncertainty … Continue reading “Small Cuban Businesses Will Try to Replace Western Union’s Services”

Cuba’s Central Bank Freezes Hard Currency Deposits of Protestant Churches

14ymedio, Manuel Calvo, Santiago de Cuba, 25 October 2020 — Money in the form of hard currency comes into their accounts at the International Financial Bank, but they are not issued magnetic cards or given cash to be able to spend it in the stores that take only ’freely convertible currency’ (MCL). This is the … Continue reading “Cuba’s Central Bank Freezes Hard Currency Deposits of Protestant Churches”

Hair Tied Up, Life in Cuba Without Shampoo

14ymedio, Luz Escobar, Havana, 23 October 2020 — Washed faces and hair up in a bun or spruced up with a scarf. It is the maximum beauty treatment that women can aspire to in a country where not only are creams and makeup scarce, but where even shampoo is not available. Emilia Domínguez is 63 … Continue reading “Hair Tied Up, Life in Cuba Without Shampoo”

The Dollar Seizes the Carlos III Shopping Center in Havana

14ymedio, Juan Diego Rodríguez / Mario J. Pentón, Havana / Miami, 12 October 2020 — Carlos III Plaza Commercial, one of the largest shopping areas in the Cuban capital, reopened this Monday with an important change: from now on you can only buy in foreign currency. The same has happened with most of the large stores … Continue reading “The Dollar Seizes the Carlos III Shopping Center in Havana”

Packages of ‘Cubita’ Coffee Found in Canada are Fake, While There’s No Cuban Coffee on the Island

14ymedio, Havana, 6 October 2020 — Coffee, sugar, rum, and tobacco have for decades been emblematic of Cuba, but some of these products have disappeared or must now be imported. Cuban coffee, that star of story and song, is now unavailable in the stores, while its appearance abroad may be a false sighting. While buying … Continue reading “Packages of ‘Cubita’ Coffee Found in Canada are Fake, While There’s No Cuban Coffee on the Island”

Machetes and Oxen Yokes are on Sale for Dollars but Tractors, Forget It

14ymedio, Havana, 14 September 2020 — Yokes for oxen, horseshoes and wire for perimeter fences are some of the items for sale in the recently issued foreign currency sales catalog focused on the Cuban agricultural sector. The dollar has arrived in the fields but still in a limited way. The farmers can make purchases in … Continue reading “Machetes and Oxen Yokes are on Sale for Dollars but Tractors, Forget It”

Several Cashiers at Currency Exchanges in Santiago de Cuba Arrested for Illegal Sale of Foreign Currency

14ymedio, Havana, 15 September 2020 —  An operation coordinated by the Revolutionary Armed Forces and the Police in Santiago de Cuba dismantled a network that was dedicated to the sale of foreign currency for the acquisition of household appliances. Several employees of the exchange houses (Cadeca) and informal vendors were part of the group. A report … Continue reading “Several Cashiers at Currency Exchanges in Santiago de Cuba Arrested for Illegal Sale of Foreign Currency”

The Cuban State Bank, From Bad to Worse

14ymedio, Elías Amor Bravo, Economist. 15 September 2020 — This morning (Tuesday) I had the opportunity to have a coffee with a colleague who works as director of a bank office in the Valencia capital. During the conversation, which revolved around important issues related to the future of the Spanish economy, it occurred to me to show … Continue reading “The Cuban State Bank, From Bad to Worse”

Cuban Financial Institution Won’t Issue New Debit Cards Because of Shortages of Many Products

14ymedio, Havana, August 16, 2020 — The financial institution Fincimex announced that beginning this Monday, it won’t accept new requests for AIS (American International Service) debit cards, used to receive remittances and make purchases in the hard-currency stores that were recently opened for the sale of food and personal hygiene and cleaning products. “It’s reported … Continue reading “Cuban Financial Institution Won’t Issue New Debit Cards Because of Shortages of Many Products”

In Cuba: Beef Fillet for Forty-Dollars that Doesn’t Look Very Good

14ymedio, Juan Diego Rodríguez, Havana, August 6, 2020 — “No, we are almost completely out of personal hygiene products,” reiterated an employee at the Double Nine store in Havana on Wednesday. She said it dozens of times over the course the day to customers looking for shampoo, bath gel and hair conditioner, products that are … Continue reading “In Cuba: Beef Fillet for Forty-Dollars that Doesn’t Look Very Good”

Is Our National Money Still Worth Anything?

14ymedio, Havana, July 21, 2020 – “Since I’ve had the use of reason they’ve inculcated us with the idea that we’re all equal, and now I understand that it’s not true,” writes Avelino, one reader among many of Cubadebate. Since Monday they’ve made their frustration clear about the beginning of the sale of food and … Continue reading “Is Our National Money Still Worth Anything?”