The Misery of Cuban Merchandise Exports and the Sustainability of the Balance of Payments Ernesto Hernández-Catá The evolution of Cuba’s merchandise exports since the early 1990s is a source of deep concern. The value of exports stagnated during the 1990s and fell in relation to GDP, mostly because of the collapse in sugar exports. The […]
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 […]
The Cuban Economy 60 years Later
The Cuban economy 60 years later[1] Jorge A. Sanguinetty The beginning Six decades after the triumph of a revolutionary movement that promised to develop the country’s economy and improve the living standard of its people should provide a sufficiently ample perspective and enough data to ascertain whether and how those promises were fulfilled. Under the […]
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 […]
There’s Only One Way Out for Cuba’s Dismal Economy
The island’s economy is neither efficient nor competitive. To move forward it must deepen and accelerate reforms. The market socialism model could provide a way. By Carmelo Mesa-Lago For the past 60 years, Cuba has been unable to finance its imports with its own exports and generate appropriate, sustainable growth without substantial aid and subsidies from […]
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