Articles of Economy

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Cuba’s Minister deems vital monetary overhaul to boost development

Ministro cubA

Cuba’s Minister of Economy Alejandro Gil affirmed on Friday that the monetary overhaul, with the Cuban peso as the only national currency, is an indispensable measure to boost the country’s development. We are entering a period of deep and necessary transformations, for all’s sake, Gil tweeted referring to the implementation of the monetary and exchange rate unification that will come into force on January 1, 2021.

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Cuba will start currency unification as of Jan 1st

Moneda cubana

Cuba will start dismantling its current two-teer monetary system as of January 1st, leaving the traditional peso (CUP) as the only official currency of the land at an initial exchange rate of 24 to 1 US dollar. President Miguel Diaz-Canel made the announcement last night at a special message to the nation in a radio-television hookup.It is the first measure formally announced as part of broader plan to overhaul the economy.

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Monetary and exchange rate regulation in Cuba begins on January 1: The exchange rate will be 24 Cuban pesos to one dollar

ordenamiento-monetario-cuba-portada-940-768x425

With the presence of Army General Raúl Castro Ruz, first secretary of the Central Committee of the Communist Party of Cuba; The President of Republic of Cuba, Miguel Díaz-Canel Bermúdez reported that the monetary and exchange rate regulation process will begin on January 1, with a rate exchange of 24 Cuban pesos for one dollar. “The corresponding elaborations and analysis have been concluded, as well as all the necessary legal norms, so it is considered that the conditions are created to announce the start of the regulation process as of January 1,”

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Cuba’s food security in the field

Machado agricultura

Over the course of an extensive day of work, combing practically all the principal agricultural poles of the province, Machado Ventura verified, in situ, that the current priority of the population is just that: working without rest to alleviate the situation caused by the intense rains and the delays in planting these generated.

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How can we redouble the strengths of local development?

cuba cria pollos

Located in the irregular topography on the southern slope of the Lomerío de la Gran Piedra, with limited sources of water, “La Fortaleza” farm owes its name to the laborious hands and entrepreneurial spirit of Aida Dolz Mariño, a woman who arrived there with her family from the city 25 years ago.

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Cuba will continue counting our victories

Cuba pueblo

With its 62nd anniversary on the horizon, the Cuban Revolution is advancing. Facing enormous challenges, our nation is moving forward with the strength unity gives us, with daily effort, confidence and the people’s commitment to defend our conquests. Although we are living in exceptional times, the sons and daughters of this combative, generous island will not forego celebrating the date across the nation.

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ECLAC executive secretary recognizes Cuba’s leadership during its term as pro-tempore president of the body

Alicia-Bárcenas

Cuba, with a delegation led by President Miguel Díaz-Canel, will participate today, through the 28th, in the 38th Session of the Economic Commission for Latin America and the Caribbean (ECLAC), held for the first time online, due to the current health emergency, according to the Cuban Foreign Ministry’s website.

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Ten-point summary to understand the brutal tightening of the blockade against Cuba

cartel cubavs bloqueo

cartel cubavs bloqueoCuban report to the United Nations indicates that damages caused by this aggressive policy exceeded five billion dollars, between April 2019 and March 2020Our economy destroyed and our people divided. This is the objective of the U.S. government, which went to great lengths in 2019 and 2020 to exhaust and besiege Cuba.

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Varadero opens its arms to the world

Varadero

Staff at the beautiful Varadero beach resort, renowned worldwide for its natural attractions, addressed a few final details before welcoming their first international visitors of the season on October 25. Tourism authorities and entities that contribute in some way to the performance of the sector, reviewed every aspect of plans to offer safe, hygienic, high quality services.

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All scientific work must have an impact on the nation’s progress

Canel Santiago de C uba

As part of the Cuban government’s proactive insistence on increasing links between scientific work and the rest of the country’s productive sectors, to make concrete contributions to the national economy, the government visit led by President of the Republic Miguel Díaz-Canel Bermúdez to Santiago de Cuba included in a discussion with directors, researchers, graduates and students at the Universidad de Oriente. The President learned how the institution of higher learning is playing a leading role in the province’s strategy to increase the food supply.