LatinNews Daily - 3 August 2023

In brief: Cuba imposes limits on cash transactions

* Cuba’s central bank (BCC) has introduced new limits on cash payments as part of its efforts to digitalise the country’s economy and increase the role of banks. Under the new measure, individual cash payments will only be authorised up to CUP5,000 (US$208). The BCC resolution announcing the new rules states that “increasing use of cash in economic and financial transactions has caused a reduction in the levels of bank use and financial inclusion in the country, which leads to elevated costs associated with the printing, transport, processing and storage [of cash]”.

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