Jul 28, 2022
In General Discussion
Dollars in cash abroad”. However, several economists pointed out that the advantage of the measure lies in the rapid collection of the millions of dollars circulating in the country at a time when Cuban banks are facing a severe liquidity crisis and Cuba has reached an agreement with Paris. Cash. Club creditors lest they breach payment promises and default. A chaotic 'economic order' The so-called 'sequencing task' aimed at removing existing currency dualities, adjusting exchange rates and salary scales begins in January 2021 after years of delay . However, the timing is not good: the first year of the economic and social consequences of the pandemic has passed, and the economy is re-dollarized. Process has started. In addition to the abolition of the convertible Cuban peso (one of the two Cuban currencies in circulation in Cuba) and the unification of currency and exchange rates at multiple rates, two other measures announced over the years have followed: the elimination Fax Number List of subsidies and tips and income transformation. Increases in wages and pensions should adjust the inverted pyramid of worker income, better distribute wealth according to each person's work, and thus improve the quality of life. Is still private. Many are now earning more, but with less purchasing power. The crisis is also social. With the country's production unstable and with no money to import the food the country needs, the government has called for an increased harvest, but with little success. Access to food remains one of the most distressing dilemmas of everyday life. The limited availability of products—not to mention their lack of variety and low nutritional quality—and their high prices have made the issue a major concern for households, so much so that the nation has seen it as a national security issue every day since 2007. worse.