CUBA: DOLLAR CRUNCH, DOLLARIZATION AND DEVALUATION Luis R. Luis Cuba faces an acute balance of payments crisis aggravated by the COVID 19 pandemic. The balance of payments crisis in turn is reflected in severe shortages of foodstuffs, medicines and other essential goods. So far measures taken to deal with the crisis are largely fiscal […]
Cuba’s Uncertain Revenues from Medical Exports
CUBA’S UNCERTAIN REVENUES FROM MEDICAL EXPORTS Luis R. Luis It is well known that exports of medical and other professional services are Cuba’s largest source of export income, surpassing tourism and outstripping merchandise exports. It is also a controversial income source as doctors are treated as mere appendages of the Cuban state deprived of […]
Remittances to Cuba Revisited: Impact of New Measures
REMITTANCES TO CUBA REVISITED: IMPACT OF NEW MEASURES[1] Luis R. Luis As many other developing nations Cuba depends on personal remittances as a sizable source of foreign exchange and support for families and small enterprises in the informal economy. This does not escape the government of Cuba which tries to exert control over these […]
Venezuela’s Cuban Burden
VENEZUELA’S CUBAN BURDEN Luis R. Luis It is well known that Venezuela and Cuba maintain close political, economic and military relations. Cuba’s dependence on Venezuela for its supply of fuel is well documented as is Venezuela’s use of Cuban professionals in its social programs and internal security apparatus. The economic transactions behind this relationship are […]
The Cuba-US Baseball Agreement: Posting vs Free Agency
THE CUBA-US BASEBALL AGREEMENT: POSTING VS. FREE AGENCY Luis R. Luis The Cuban Baseball Federation (FCB), Major League Baseball (MLB) and the Major Leagues Players’ Association (MLA) reached an agreement on December 19 setting up a framework whereby Cuban players can enter into contracts with US baseball teams. This agreement sets terms under which […]
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