liquidity crisis

China to the rescue

July 2, 2010

China could help Cuba cover its banking system’s liquidity deficit with a multibillion dollar loan. Havana has already asked for a $3B loan. The cause of the liquidity crisis is attributed to lack payments by Cuban banks worth between $600M and $1B in 2009 according to United Nations’ CEPAL data (pdf). [ANSA]

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A most difficult year in 2010

December 30, 2009

Infolatam analyzes the precarious economic and political situation be facing the Castro regime the year ahead: Cuba will live a very difficult year in 2010 due to an economic crisis drowning the Castroite regime. Raúl Castro will introduce cuts to social programs reducing costs that could ultimately cause protests to become a reality. Two great [...]

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Govt. considers easing stranglehold on retail sector

September 2, 2009

Via Financial Times: The Cuban government is considering easing its stranglehold on the retail sector in an effort to legalise the underground economy and reduce massive theft. A recent communiqué from the Communist party’s central committee suggested change was coming to one of the world’s two remaining Soviet-style command economies, the other being North Korea…Cuba [...]

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