Search results for: MLC Store

Dollar Stores Subsidize Social Justice, Says Cuba’s Economy Minister

14ymedio, December 4, 2020 — Economy and Planning Minister Alejandro Gil Fernandez appeared on Thursday’s “Roundtable” State TV program in an effort to calm the growing popular discontent over hard-currency stores. His words, however, had the opposite effect. The minister’s statements outraged many Cubans, who expressed disagreement on the streets and in social media. Most … Continue reading “Dollar Stores Subsidize Social Justice, Says Cuba’s Economy Minister”

Soldiers Deployed to Guard Hard Currency Stores

14ymedio, Havana, December 1, 2020 — The areas around several Havana stores have been under heavy guard by military and special forces troops since Monday when windows in one of the stores were smashed. Purchases at these stores, known locally as MLCs (the Spanish initials for “Freely Convertible Currency”), can only be made with foreign currency, … Continue reading “Soldiers Deployed to Guard Hard Currency Stores”

Slogans Against Cuban ‘Dollar Stores’ Painted on Walls in Cienfuegos

14ymedio, Luis Daniel Fernández Monzón, Havana, 5 December 2020 — Several graffiti appearing on the walls in the small city of Cruces, in Cienfuegos province, surprised  the town’s inhabitants on Thursday. “Down with the dictatorship,” “We want the dollar stores closed,” and “Long Live Free Cuba, down with Dias [sic… it should be ‘Diaz’] Canel,” … Continue reading “Slogans Against Cuban ‘Dollar Stores’ Painted on Walls in Cienfuegos”

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)”

‘Prices Are Expressed in Dollars’ Says the Sign in Cuban Shops

14ymedio, Natalia López Moya, Havana, 13 October 2023 — “I now pronounce you husband and wife,” was repeated several times a day between those walls. The former Legal Consultancy of Nuevo Vedado in Havana, which welcomed so many marriages between Cubans and foreigners, is now a business immersed in the separation of goods for the … Continue reading “‘Prices Are Expressed in Dollars’ Says the Sign in Cuban Shops”

Cuba’s Central Bank Prohibits Private Businesses from Withdrawing Cash from ATMs

14ymedio, Havana, August 2, 2023 — The “bankification” of the country, just approved this Monday by the Council of Ministers, reflects the lack of liquidity of the Cuban State, and will begin to take effect as of this Thursday, “gradually,” with the announcement of a group of measures by the Central Bank of Cuba (BCC). … Continue reading “Cuba’s Central Bank Prohibits Private Businesses from Withdrawing Cash from ATMs”

‘It Would Never Occur to Me to Put My Dollars in a Cuban Bank’

14ymedio, Juan Diego Rodríguez, Havana, April 12, 2023 — None of the many people waiting in line outside a bank in Central Havana on Wednesday were there to deposit dollars, something they had been able to do since Tuesday thanks to a decree by the Central Bank of Cuba. On the contrary, they were suspicious … Continue reading “‘It Would Never Occur to Me to Put My Dollars in a Cuban Bank’”

‘The Grandchildren Law is Going to Drive Us Crazy’ Complain the Employees of the Civil Registry in Cuba

Yankiel Gutiérrez Faife, Camajuaní | 14 February 2023 — The peace of a small town like Camajuaní, in Villa Clara, is only disturbed for three reasons: partying, surprise supplies in hard currency stores and the queues at the paperwork offices. The most extensive is the one that is organized every morning in front of the Directorate … Continue reading “‘The Grandchildren Law is Going to Drive Us Crazy’ Complain the Employees of the Civil Registry in Cuba”

In Matanzas, Cuba, Alarms Go Off for Milk and Sugar Unfit for Human Consumption

14ymedio, Havana, 14 November 2022 — It’s a bad weekend to talk about food sovereignty. Matanzas residents, los matanceros, have been the first to complain to the authorities about the future law that aims to protect the right to food, after several days of new trouble in that area. The neighbors went to bed this Sunday … Continue reading “In Matanzas, Cuba, Alarms Go Off for Milk and Sugar Unfit for Human Consumption”

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”

Shipments to Cuba to be Paid for in Miami

Ivan Garcia, Havana, 4 April 2022 — After shaving his incipient beard, Sergio, 36, a software programmer, gets his smartphone and goes online. Using the WhatsApp tool Infotienda, he tracks down which market in Havana is stocking cheese, toilet paper, and milk powder. His 10-year-old daughter and two of her friends play The Sims on … Continue reading “Shipments to Cuba to be Paid for in Miami”

Cuba: Is There Really a U.S. Embargo?

14ymedio, Elías Amor Bravo, Valencia, 3 February 2022 — With regard to the embargo, which the official Castrist press has converted into a lightning rod, it is interesting to share some reflections which, for obvious reasons, will be very different from those launched by communist propaganda. The truth is, taking advantage of the 60th anniversary … Continue reading “Cuba: Is There Really a U.S. Embargo?”

Former Government Minister Proposes Floating Exchange Rate to Curb Inflation

14ymedio, Havana, November 9, 2021 — The Cuban government’s top priority is controlling inflation. That is what economics minister Alejandro Gil claimed during an interview on Radio Reloj over the weekend. Gil said the solution lay in increasing the amount of goods and services available at businesses that accept payment in Cuban currency. In a … Continue reading “Former Government Minister Proposes Floating Exchange Rate to Curb Inflation”

Hard-Currency Debit Cards: Much More than a Waiting List

14ymedio, Elias Amor Bravo, economist, November 1, 2021 — If there is one sector of the Cuban economy with no reason to be grateful for the changes the revolution brought about, it is agriculture. It employs almost one fifth of the nation’s workforce but contributes only 5% to GDP. Productivity is 80% below the economic average. … Continue reading “Hard-Currency Debit Cards: Much More than a Waiting List”

In Santa Clara, Cuba, Archipielago Proposes Taking to the Streets in a Decentralized Manner on 15 November

14ymedio, Havana, November 9, 2021 — Facing harassment by State Security and the local government, Archipiélago in Santa Clara announced this Tuesday “replacing the initial proposal” of a march on November 15th (15N). The new strategy proposed taking to the streets in “a decentralized manner from any point in the city.” The convening will still take place … Continue reading “In Santa Clara, Cuba, Archipielago Proposes Taking to the Streets in a Decentralized Manner on 15 November”