Introduction Deposit Insurance was an integral part of the Cuban banking system prior to the confiscation of the private banks. Under Law Decree 384 of September 9, 1952, deposit accounts were insured up to 10,000 pesos for each individual by the Fondo de Seg uros de Depósitos, an autonomous legal agency of the government. The […]

Notes[ref]The author is indebted to René A. Monserrat and Carlos Quijano for important suggestions. The author remains, however, solely responsible for the content of the paper. This paper was also submitted at the CVI Annual Meeting of the American Economic Association, Boston, January 2-5, 1994.[/ref] Introduction Cuba’s economy continues to deteriorate at a fast rate […]

The Central Bank of Cuba, Banco Nacional de Cuba (BNC), was created in 1948 and commenced operations in 1950. This institution was modeled after the U.S. Federal Reserve Bank system. BNC functioned as the monetary authority for a brief period until the onslaught of the Castro regime and the island economy’s transformation to a centrally […]

Until the 19th Century, credit functions in Cuba, under Spanish domain, were performed by merchants who provided unsecured credit to sugar, coffee, and other producers. Between the early and mid-1800 however a number of single purpose establishments appeared in Cuba. The first bank established was the Banco de Fernando VIII, established in 1832 and which lasted […]

Notes[ref]The authors would like to acknowledge Miss. Bonnie Kunkel and Mrs. Janice Snow-Rodríguez of the Information Center, Office of Research, Radio Martí Program, OCB. for their document research assistance. In addition, Dr. Mario Ortega and Dr. Michael Dudas provided assistance on pediatrics standards.[/ref] Executive Summary This paper quantifies the 1992 social safety net of Cuba […]