Economy & Business - October 2023

CUBA: Small businesses resist digital money

A new government rule, introduced at the beginning of August, requires all transactions worth CUP 5,000 (US$21) or more to be conducted digitally, part of an effort to develop the banking system and give the Partido Comunista de Cuba (PCC) government greater control of monetary policy. However, it has not been well received, with many individuals and small businesses expressing a strong preference for cash.

End of preview - This article contains approximately 849 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

Intelligence Research Ltd.
167-169 Great Portland Street,
5th floor,
London, W1W 5PF - UK
Phone : +44 (0) 203 695 2790
You may contact us via our online contact form
Copyright © 2022 Intelligence Research Ltd. All rights reserved.