The Cuban regime announced intervention in the informal currency market in February.

The Cuban regime announced that it is ready to intervene informal money market In February, however, they did not explain how they would do this.

The Cuban President indicated that the government would “proceed in the presentation of proposals for resizing the exchange market, intervention of the informal sector and control of the exchange rate in the country.”

In this sense, he indicated that the actions to be developed include “the exchange rate determination And this value creation,

Minister of Economy and Planning Alejandro Gil Fernandez He said at the Council of Ministers meeting this Monday that they are “working hard on this because it will have an impact on the promotion and stimulation of production in the country”.

However, what will have an important weight in the Cuban economy, more than the increase in productivity, exports and growth of goods and services, is the chronic life strategy of migrants.

Gil Fernandez has made it clear what the purpose of some of his measures is “Recover send flowEncourage their acquisition and study the feasibility of using new channels, platforms and digital scenarios for bank operations Collection and payment from abroad,

Additionally, the government plans to “implement new mechanisms for the allocation and management of liquidity for all economic actors” from February.

Gill assured that this would allow them to “achieve more harmonious functioning of the economy and thus further advance the autonomy of the state company.” The idea is reminiscent of his project for stores in MLC that would support the import of products to be sold in CUC or CUP stores, something he never accomplished.

While the government prepares to deploy its strategy and achieve intervention informal money marketThis Monday the dollar is worth 285 pesos and the euro is worth 290 CUP.

Prime Minister in December manuel marrero He accused Cuba’s independent media of encouraging higher prices and assured that the official dollar rate would change in 2024.

No Cuban official has yet dared to say what the new value of the dollar will be set in Cuba.

Gill has emphasized on several occasions that government intervention in the informal currency market would occur because “it’s a deformity“And they won’t let it stand.

“The exchange market is one of the main distortions that the economy is facing and it is not by design. We have not designed the exchange market that is going on in the country, but there is a significant part of the foreign exchange that is going on in the non- -State acquirers do it in that market,” the official admitted.

(TagstoTranslate)News from Cuba(T)Currency exchange in Cuba(T)Cuban currency exchange(T)Dollarization in Cuba(T)Alejandro Gil Fernandez(T)Cuban economy(T)Remittances to Cuba

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