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The dollarization of Cuba refer to macroeconomic policies implemented with the aim at stabilising the Cuban economy after 1993. They were initially enacted to offset the economic imbalances which was a result of the dissolution of the Soviet Union in 1991. [ 1 ]
Cash-starved Cuba this month opened the first grocery store to accept hard U.S. currency on the island in nearly two decades, the latest sign in a trend towards dollarization in the Communist-run ...
Taíno genocide Viceroyalty of New Spain (1535–1821) Siege of Havana (1762) Captaincy General of Cuba (1607–1898) Lopez Expedition (1850–1851) Ten Years' War (1868–1878) Little War (1879–1880) Cuban War of Independence (1895–1898) Treaty of Paris (1898) US Military Government (1898–1902) Platt Amendment (1901) Republic of Cuba (1902–1959) Cuban Pacification (1906–1909) Negro ...
The economy of Cuba is a planned economy dominated by state-run enterprises. In the 1990s, the ruling Communist Party of Cuba encouraged the formation of worker co-operatives and self-employment. In the late 2010s, private property and free-market rights along with foreign direct investment were granted by the 2018 Cuban constitution.
Jose Daniel Ferrer, the leader of one of the largest banned anti-government groups in Cuba, was released two days after a surprise flurry of diplomatic activity involving the communist-run island ...
Cuba denied the allegations, calling the designation a farce and seeking removal from the list, which carries a prohibition on U.S. economic aid and a ban on U.S. arms exports.
With the dissolution of the Soviet Union in 1991 Cuba lost much of its Soviet financial aid which it had become dependent on. [8] The loss of Soviet trade which comprised 80% of the islands foreign trade, created an economic crisis called the "Special Period" in Cuba which was defined by mass shortages. The Cuban government quickly began ...
De-dollarization — when countries shift away from the greenback as the currency for reserves, transactions and to measure value — has become a hot topic in recent years, with countries like ...