News and Facts about Cuba

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Growth returns to Caribbean Basin, but recovery is uneven

Growth returns to Caribbean Basin, but recovery is uneven
BY JACQUELINE CHARLES AND MIMI WHITEFIELD
jcharles@miamiherald.com

Economic performance in the Caribbean will be uneven this year: Some
economies will grow by 5 percent or more, but others will be lucky to
eke out even negligible economic growth.

“The Dominican Republic and Guyana are expected to remain the strongest
performers in… Continue reading

Is Raul Castro in Hibernation Mode?

Is Raul Castro in Hibernation Mode? / Iván García

Ivan Garcia, 11 April 2017 — Right now the most closely guarded secret
in Cuba is the protocols for succession of the nation’s president, army
general Raul Castro, after his retirement in February 2018.

I will tell you what is rumored among some officials close to the
tight-lipped team of advisers… Continue reading

The Secrets of Secretismo

The Secrets of Secretismo

14ymedio, Reinaldo Escobar, 16 April 2017 — The term secretismo
(secretiveness), to refer to the absence or delay of certain information
of public interest in the Cuban official media, began to be used first
among critics of the system, until it came to appear in the speeches of
the highest officials of the government.

The list… Continue reading

Alleged Cuban smuggler pleads guilty to sex trafficking

Alleged Cuban smuggler pleads guilty to sex trafficking
BY NORA GÁMEZ TORRES
ngameztorres@elnuevoherald.com

This was the premise of a case involving a Cuban resident in Miami
accused of illegally bringing women from the island and forcing them
into sex slavery in the United States. Silvio Clark Morales, 31, plead
guilty in federal court Thursday to 7 of the 19 charges… Continue reading

Former FARC Guerrillas to Train as Doctors and Journalists in Cuba

Former FARC Guerrillas to Train as Doctors and Journalists in Cuba /
Juan Juan Almeida

Juan Juan Almeida, 17 March 2017 — From the very moment it gained power,
the Cuban regime has devoted precious resources to exporting its
ideology and cultivating followers. Overseas military conflicts as
distant as those in Africa in the late 1970s and the guerrilla wars… Continue reading

Lack of cash clouds Cuba’s green energy outlook

Lack of cash clouds Cuba’s green energy outlook
By Sarah Marsh | CIRO REDONDO, CUBA

Cuba, battling a chronic energy deficit, has all the sunshine, wind and
sugar to fuel what should be a booming renewables sector – if only it
could find the money.

The country’s first utility-scale renewable energy project, a biomass
plant in Ciro Redondo, is finally… Continue reading

Cuba: more reliant on the US than ever

Cuba: more reliant on the US than ever
ROBERTO ÁLVAREZ QUIÑONES | Los Ángeles | 27 de Marzo de 2017 – 16:38 CEST.

The best way to appreciate how that Cuba’s economy today depends on the
US more than ever before in its history is to engage in a very simple
mental exercise: imagine that Washington banned travel, remittances and… Continue reading

Cuba owes Australia almost $10m from 1980s

Cuba owes Australia almost $10m from 1980s
By AAP

The Cuban government is yet to pay back almost $10 million it borrowed
from Australia more than 30 years ago.

The Hawke government issued two loans to Cuba in 1984 and 1985 to
support the sale of sugar cultivation and harvesting equipment.

Australia is still owed $9.49 million in principal, after… Continue reading

The energy that Castroism is stifling

The energy that Castroism is stifling
ROBERTO ÁLVAREZ QUIÑONES | Los Ángeles | 21 de Febrero de 2017 – 09:05 CET.

In recent weeks the regime of General Raúl Castro has “spooked,” and is
now galloping in the wrong direction, in defiance of time and history.
The economic crisis is compounded daily, and the dictator and his
military junta, far… Continue reading

China Moves Into Cuba as Venezuela Fades, Trump Looms

China Moves Into Cuba as Venezuela Fades, Trump Looms
February 14, 2017 8:30 PM
Reuters

HAVANA —
From buses and trucks to a $500 million golf resort, China is deepening
its business footprint in Cuba, helping the fellow Communist-run state
survive a crisis in oil-benefactor Venezuela and insulate against a
possible rollback of U.S. detente.

Cuban imports from China reached… Continue reading

Cuba – It Might Seem Stupid but…

Cuba: It Might Seem Stupid but…
February 9, 2017
By Fernando Ravsberg

HAVANA TIMES — The Cuban economy would be on the increase if half of the
Revolution’s guardian angels – those who dedicate themselves to
monitoring what is written on every blog – spent their time chasing
corrupt and incompetent officials who steal and destroy the wealth that
other… Continue reading

Did the regime pay its creditors 5.29 billion?

Did the regime pay its creditors 5.29 billion?
ROBERTO ÁLVAREZ QUIÑONES | Los Ángeles | 10 de Febrero de 2017 – 14:56 CET.

The anxiety affecting the dictator and military higher-ups in charge of
Cuba is palpable, eager to dispel their bad international reputation for
non-payment, as they yearn to attract unwary foreign investors and
receive loans so that they… Continue reading

Cuba experiencing an economic crisis

Cuba experiencing an economic crisis
By Nora Gamez Torres
El Nuevo Herald Published Feb 7, 2017 at 12:02AM

MIAMI — The Cuban government reportedly paid $5.2 billion in 2016 to
meet its commitments after an extensive restructuring of its foreign
debt in the midst of an ongoing economic crisis not likely to improve
this year.

Despite growth in tourism —… Continue reading

Sherritt’s nickel-price boost capped by debt, ‘confusing’ U.S. signals on Cuba

Sherritt’s nickel-price boost capped by debt, ‘confusing’ U.S. signals
on Cuba
Sunny Freeman | February 6, 2017 4:41 PM ET

David Pathe knows what it’s like to be banned from the United States.

The chief executive of Toronto-based Sherritt International Corp.
received a letter from the U.S. Department of Homeland Security three
years ago saying he was no longer welcome… Continue reading

Cuba paid more than $5 billion in foreign debt last year but the economy is still dragging

Cuba paid more than $5 billion in foreign debt last year but the economy
is still dragging
BY NORA GÁMEZ TORRES
ngameztorres@elnuevoherald.com

The Cuban government reportedly paid $5.2 billion in 2016 to meet its
commitments after an extensive restructuring of its foreign debt in the
midst of an ongoing economic crisis not likely to improve this year.

Despite growth in… Continue reading

I Did Not Enter This House Through The Window

“I Did Not Enter This House Through The Window” / 14ymedio, Luz Escobar

Every night when Bisaida Azahares Correa goes to bed and looks at the
ceiling, she is afraid that when the sun comes up she will have leave
the house where she lives with her two children. This dwelling in the
Siboney neighborhood is her only chance of… Continue reading

Obama Leaves A Poisoned Gift To Trump And Castro

Obama Leaves A Poisoned Gift To Trump And Castro / 14ymedio, Pedro Campos

14ymedio, Pedro Campos, 16 January 2017 — Raul Castro’s government,
after reestablishing diplomatic relations with Washington and easing
international pressures – which allowed it to renegotiate a large part
of its foreign debt – did all it could to prevent the rapprochement from
resulting in increased business… Continue reading

Can Cuba Overcome the Prejudice against Investment?

Can Cuba Overcome the Prejudice against Investment?
January 5, 2017
by Fernando Ravsberg

HAVANA TIMES — Ending the year, President Raul Castro announced to the
legislature that financial constraints in 2017 “could even get worse in
certain circumstances” but even then we would be able to get the “GDP
growing at a moderate rate around 2%.”

One of the key… Continue reading

What the reform measures implemented by Raúl Castro in 2006 have achieved, and failed to

What the reform measures implemented by Raúl Castro in 2006 have
achieved, and failed to
ELÍAS AMOR | Valencia | 29 de Diciembre de 2016 – 10:12 CET.

The close of 2016 marks a wasted year for the Cuban economy. A few days
ago the CEPAL announced that GDP growth would be 0.4%, one of the lowest
in Latin America,… Continue reading

2016 was a truly historic year for Cuba

2016 was a truly historic year for Cuba
BY NORA GÁMEZ TORRES
ngameztorres@elnuevoherald.com

The death of Fidel Castro marked the end of a truly historic year for Cuba.

After years of false rumors that he had died, the former Cuban ruler
finally passed away at 10:29 p.m. Nov. 25, according to a statement read
by his brother Raúl on state… Continue reading

In Cuba Everybody Wants My Money

In Cuba Everybody Wants My Money
December 22, 2016
By Yudarkis Veloz Sarduy (Progreso Semanal)

HAVANA TIMES — In my household, nobody could believe what journalist
Boris Fuentes was telling us on the “Cuba Says” segment of the National
News on Cuban TV one night at the end of November.

If a bunch of onions costs 30 pesos in one… Continue reading

Another Socialist Economic Innovation – Cuba Reinvents Barter WithRum For Czech Republic

Another Socialist Economic Innovation – Cuba Reinvents Barter With Rum
For Czech Republic

Tim Worstall , CONTRIBUTOR
I have opinions about economics, finance and public policy.
Opinions expressed by Forbes Contributors are their own.

One of the things which truly puzzles about the general enthusiasm for
socialism in certain quarters is quite why people keep claiming that
it’s a successful… Continue reading

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