LatinNews Daily - 24 August 2023

In brief: Cuba’s gov’t criticises slow transition from cash-based economy

* Cuba’s Prime Minister Manuel Marrero has criticised what he described as “resistance” to the government’s efforts to make the economy less dependent on cash. According to Granma, the official newspaper of the ruling Partido Comunista de Cuba (PCC), Marrero accused business owners in the country’s small private sector of “refusing to allow customers to pay electronically”. The president of Cuba’s central bank (BCC), Joaquín Alonso Vázquez, also said that some businesses are insisting on cash payments and said that further public awareness was needed of the push to digitise Cuba’s economy. In early August the BCC imposed new rules capping individual cash payments at CUP5,000 (US$208) as part of efforts to increase the role of banks in the economy.

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